Wallusch, Jacek; Baltzer, Markus - In: Brussels Economic Review 52 (2009) 3/4, pp. 275-288
This paper tries to elucidate the relationship between innovations, interest rate and price movement in Imperial Germany (1878-1913). We use the high-powered patents as a proxy for changes in technology. Using various distributed lag models we found a small, positive and significant response of...