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recession of 1919-21, and may be the case in Japan today. In this paper we focus on the price level and growth experience of the …
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recession of 1919-21, and may be the case in Japan today. In this paper we focus on the price level and growth experience of the …
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This paper tests the hypothesis that idiosyncratic U.S. disturbances and their international propagation can account for the global Depression. Exploiting common stochastic trends in U.S. and Canadian interwar data, we estimate a small open economy model for Canada that decomposes output...
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