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Income shocks to trade balance under the gold standard
Einkommensschock für die Handelsbilanz unter Goldstandard
[journal article]
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 ... view more
"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)... view less
Keywords
Italy; demand; trade balance; capital market; Denmark; Germany; Norway; supply; historical development; price elasticity; macroeconomics; economic theory; export; income; import; gold; international comparison; France; Great Britain; gold standard; First World War
Classification
National Economy
General History
Method
theory application; empirical; historical; quantitative empirical
Document language
English
Publication Year
2010
Page/Pages
p. 412-427
Journal
Historical Social Research, 35 (2010) 3
DOI
https://doi.org/10.12759/hsr.35.2010.3.412-427
ISSN
0172-6404
Status
Published Version; peer reviewed