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Was the collapse of world trade between 1928 and 1937 caused by higher transport costs, increased protectionism or the … currency and trade blocs, international trade would have been 3 % larger. Finally, had transport costs remained at their 1928 …
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German unifikation hit the West German economy in a prosperous and appeared as a huge demand shock at least for the first few quarters. This combination resulted in a major increase of imports from the main trading partners of West Germany, which may have helped to cushion recessionary trends...
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