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initiated the downturn, France increased its share of world gold reserves from 7 percent to 27 percent between 1927 and 1932 and … and world prices had continued. The results indicate that France was somewhat more to blame than the United States for the …
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Over the U.S. business cycle, fluctuations in residential investment are well known to systematically lead GDP. These dynamics are documented here to be specific to the U.S. and Canada. In other developed economies residential investment is broadly coincident with GDP. Nonresidential investment...
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This paper uses a database covering the universe of French firms for the period 1990--2007 to provide a forensic account of the role of individual firms in generating aggregate fluctuations. We set up a simple multi-sector model of heterogeneous firms selling to multiple markets to motivate a...
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evidence from France in the 1930s. In 1936, France departed from the gold standard and implemented mandatory wage increases and …
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