Dr Natacha Postel-Vinay

Dr Natacha Postel-Vinay

Assistant Professor

Department of Economic History

Room No
SAR 6.13
Office Hours
MT: Thursdays 14:30-16:30 | LT: Thursdays 15:00-16:30

About me

I am an economic historian mainly interested in financial history. My research explores monetary and banking phenomena, whether domestic or international. I look at how finance affects the business cycle, in particular in contributing to economic crises and worsening downturns. I have special expertise in the financial history of the Great Depression, in particular the causes of  US bank failures in the 1930s. I often deal with issues of mortgage and household debt. I also have an interest in public finance, fiscal capacity, and the question of the impact of fiscal austerity on the economy. 

Beyond the 19th and 20th centuries, I teach financial history from 1600. And beyond financial history, I also have an interest in processes of long-run development such as the Industrial Revolution. 

Research interests

  • Financial history of the 19th and 20th centuries. 
  • Financial, banking and monetary crises, especially the Great Depression and the Great Recession.
  • Mortgage and household debt.
  • Public finance: the impact of fiscal policy on the business cycle.  


EH430 - Monetary and Financial History

Journal publications

Debt Dilution in 1920s America: Lighting the Fuse of a Mortgage Crisis" Economic History Review, 70 (2), pp. 559-585 (May 2017). 

What Caused Chicago Bank Failures in the Great Depression? A Look at the 1920s Journal of Economic History 76 (2), pp. 478-519 (June 2016).

"Sitting Ducks: Banks, Mortgage Lending, and the Great Depression in the Chicago Area, 1923-1933." Dissertation summary (forthcoming, Journal of Economic History).

Working papers

"Taxes and Growth: New Narrative Evidence from Interwar Britain", NBER Working Paper and CEPR Discussion Paper, with James Cloyne (UC Davis) and Nicholas Dimsdale (Oxford), 2018.

Vox column here

Other writing

Book review of Phillips, Ronnie J. ed., US Credits and Payments, 1800-1934, Economic History Review 68 (3), pp. 1096-8 (August 2015). 

Real estate bubbles leading to bank troubles — 2008? Not exactly LSE Business Review (July 6, 2016).

The experience of the U.S. Great Depression suggests parallels between 1920s mortgage lending and the recent financial crisisLSE USApp (July 18, 2014).