An Econometric Model of National Income, Commercial Policy and the Level of International Trade: The Open Economies of Europe, 1924–1938

Philip Friedman

The Journal of Economic History, 1978, vol. 38, issue 1, 148-180

Abstract: The history of European trade is replete with cases of aggressive and restrictive commercial policies. These policies were part of the permanent nature of economic relationships among European nations from feudalism onward. Keynes' golden age passage in The Economic Consequences of the Peace exaggerates the extent to which prewar Europe was a free trade zone.

Date: 1978
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