The Transmission of International Business Cycles Shocks: Evidence from the European Periphery, 1861-1913

C. Garcia-Iglesias

Working Papers from European Institute - History

Abstract: This study compares the international transmission of both nominal and real business cycle shocks from 1861 to 1913 in Scandinavia and the Southern European countries of Italy, Portugal, and Spain. Cointegration analysis and estimated vector autoregression for real GDP and inflation reveal the presence of a real European business cycle. Specifically, I highlight the importance of exchange rate systems in the transmission f business cycles shocks.

Keywords: ECONOMIC HISTORY; BUSINESS CYCLES (search for similar items in EconPapers)
JEL-codes: E32 N10 (search for similar items in EconPapers)
Pages: 63 pages
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:fth:eurohi:99/4

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