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This paper employs the concept of ‘defence news’ proposed by Ramey (2009) to develop a time series of shocks to UK defence spending in the interwar period at a quarterly frequency. ‘Defence news’ is the present value of changes to defence spending plans. Information on this is taken from...
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The paper comprises a thorough survey of the literature on growth in Western Europe since 1950. This experience is put … in the context both of long-run historical trends and the ideas emanating from recent work in growth economics. The … exceptional nature of the Golden Age (c.1950-73) is confirmed and given an historical interpretation. Catch-up growth is seen as …
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