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Economic Nationalism and Economic Integration : The Austro-Hungarian Empire in the Late Nineteenth Century

Schulze, Max-Stephan - 2009

This paper seeks to reconcile two seemingly contradictory strands in the literature on economic development in the late nineteenth century Habsburg Empire - one emphasizing the centrifugal impact of rising intra-empire of nationalism, the other stressing significant improvements in market...

Persistent link: https://www.econbiz.de/10013155669

Overvalued : Swedish Monetary Policy in the 1930s

Rathke, Alexander - 2013

This paper reconsiders the role of monetary policy in Sweden's strong recovery from the Great Depression. The Riksbank …, our findings suggest that Sweden avoided the worst excesses of the depression by conducting conservative rather than … innovative monetary policy. We find that, by keeping the Swedish krona undervalued to replenish foreign reserves, Sweden …

Persistent link: https://www.econbiz.de/10013091832

How to be Well Shod to Absorb Shocks? Shock Synchronization and Joining the Euro Zone

Gilson, Natacha - CESifo - 2006

This paper examines the demand and supply shocks observed in the present Eurozone member states and those observed in some neighboring countries. The analysis is based on recent data and each Eurozone member country is compared with an aggregate series corresponding to an area made up of the...

Persistent link: https://www.econbiz.de/10005766277

Divorce and Gold Coins : A Case Study of Iran

Farzanegan, Mohammad Reza - 2018

The increasing divorce rate has become a major social concern for policy makers in the Islamic government of Iran. The price of gold coin is an important factor in cost-benefit analysis for individuals in their marriage and divorce decisions in Iran. Dowries (Mehrieh) are usually in the form of...

Persistent link: https://www.econbiz.de/10012924341

Identifying Uncertainty Shocks Using the Price of Gold

Piffer, Michele - 2017

We propose a new instrument to identify uncertainty shocks in a SVAR model with external instruments. The instrument is constructed by exploiting variations in the price of gold around events that capture periods of changes in uncertainty. The variations in the price of gold around the events...

Persistent link: https://www.econbiz.de/10012961957

Pegxit Pressure : Evidence from the Classical Gold Standard

Mitchener, Kris James - 2017

We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the likelihood of an expected currency devaluation. Using a new high-frequency data set on...

Persistent link: https://www.econbiz.de/10012965714

Shooting on a Moving Target : Explaining European Bank Rates during the Interwar Period

Wandschneider, Kirsten - 2013

This paper describes the monetary policy response of countries during the inter-war period. How did central banks react to the Great Depression? How did countries balance the externals demands of the gold standard with domestic policy pressures? What was the optimal level of international policy...

Persistent link: https://www.econbiz.de/10013095799

Scylla and Charybdis - Explaining Europe's Exit from Gold, January 1928 - December 1936

Wolf, Nikolaus - 2021

The paper examines the timing of exit from the interwar gold-exchange standard for a panel of European countries, based on monthly data over the period January 1928 - December 1936. I show that exit from gold can be understood in terms of a trade-off between a limited set of factors commonly...

Persistent link: https://www.econbiz.de/10013316548

Growth Expectations, Undue Optimism, and Short-Run Fluctuations

Enders, Zeno; Kleemann, Michael; Müller, Gernot - CESifo - 2013

We assess the contribution of “undue optimism” (Pigou) to short-run fluctuations. In our analysis, optimism pertains to total factor productivity which determines economic activity in the long run, but is not contemporaneously observed by market participants. In order to recover optimism...

Persistent link: https://www.econbiz.de/10011148853

What are the Effects of Tax Changes in the United Kingdom? New Evidence from a Narrative Evaluation

Cloyne, James - CESifo - 2011

This paper estimates the effects of tax changes on the U.K. economy. Identification is achieved by isolating the ‘exogenous’ tax policy shocks in the post-war U.K. economy using a narrative strategy as in Romer and Romer (2010). The resulting tax changes are shown to be unforecastable on the...

Persistent link: https://www.econbiz.de/10009020785

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