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Income shocks to trade balance under the gold standard

Einkommensschock für die Handelsbilanz unter Goldstandard
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Veselkova, Marcela

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Abstract "This paper investigates the major sources of changes in the trade balance of seven European countries - Denmark, France, Great Britain, Germany, Italy, Norway, and Sweden - before the World War I using the structural vector autoregression analysis. The results suggest that the transitory shocks to income are the main source of variation in the trade balance, whereas the permanent shocks to income determine the changes in the income." (author's abstract)
Keywords export; historical development; supply; income; demand; import; economic theory; trade balance; Denmark; France; Germany; Great Britain; First World War; capital market; gold; gold standard; international comparison; Italy; macroeconomics; Norway; price elasticity
Classification National Economy; General History
Method empirical; quantitative empirical; historical; theory application
Document language English
Publication Year 2010
Page/Pages p. 412-427
Journal Historical Social Research, 35 (2010) 3
ISSN 0172-6404
Status Published Version; peer reviewed
Licence Creative Commons - Attribution-Noncommercial-No Derivative Works