Income Shocks to Trade Balance under the Gold Standard

Marcela Veselkova

Historical Social Research (Section 'Cliometrics'), 2010, vol. 35, issue 3, 412-427

Abstract: This paper investigates the major sources of changes in the trade balance of seven European countries – Denmark, France, Great Britain, Germany, Italy, Norway, and Sweden – before the World War I using the structural vector autoregression analysis. The results suggest that the transitory shocks to income are the main source of variation in the trade balance, whereas the permanent shocks to income determine the changes in the income.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:afc:histor:v:35:y:2010:i:3:p:412-427

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