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Compliance with Price Controls in the United States and the United Kingdom During World War II

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  • Mills, Geofrey
  • Rockoff, Hugh

Abstract

We are concerned here with the evasion of price controls in the United States and the United Kingdom in World War II. The evidence suggests that controls produced less evasive activity in the United Kingdom. After considering several explanations we conclude that the key was the degree of regimentation. The British controlled all stages of production, limited the range of products available at each stage, and allocated relatively more resources to managing and enforcing controls.

Suggested Citation

  • Mills, Geofrey & Rockoff, Hugh, 1987. "Compliance with Price Controls in the United States and the United Kingdom During World War II," The Journal of Economic History, Cambridge University Press, vol. 47(1), pages 197-213, March.
    • Handle: RePEc:cup:jechis:v:47:y:1987:i:01:p:197-213_04
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    Cited by:

    1. Hugh Rockoff, 2016. "The U.S. Economy in WWII as a Model for Coping with Climate Change," Departmental Working Papers 201609, Rutgers University, Department of Economics.
    2. Tetsuji Okazaki, 2022. "Controlling Funds Allocation for the War: The Experience of Japan in the Late 1930s," CIRJE F-Series CIRJE-F-1191, CIRJE, Faculty of Economics, University of Tokyo.
    3. Selgin, George & Lastrapes, William D. & White, Lawrence H., 2012. "Has the Fed been a failure?," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 569-596.
    4. Sara Torregrosa-Hetland & Oriol Sabaté, 2022. "Income tax progressivity and inflation during the world wars [War finance and inflation in Britain and Germany, 1914–1918]," European Review of Economic History, European Historical Economics Society, vol. 26(3), pages 311-339.
    5. Maurie Cohen, 2011. "Is the UK preparing for “war”? Military metaphors, personal carbon allowances, and consumption rationing in historical perspective," Climatic Change, Springer, vol. 104(2), pages 199-222, January.
    6. Tetsuji OKAZAKI, 2022. "Controlling Funds Allocation for the War: The Experience of Japan in the Late 1930s," CIGS Working Paper Series 22-005E, The Canon Institute for Global Studies.
    7. Hugh Rockoff, 2020. "Off to a Good Start: The NBER and the Measurement of National Income," NBER Working Papers 26895, National Bureau of Economic Research, Inc.

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