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Money and Business Cycles in Britain, 1870–1913

In: Business Cycles

Author

Listed:
  • Forrest Capie

    (City University)

Abstract

Friedman and Schwartz’s work on the monetary history of the USA, especially the evidence presented in ‘Money and Business Cycles’(1963) had a profound impact on our views on the American economy. Their work drew attention to the need for similar studies of other countries. But surprisingly no long-period study of the cycle after 1870 was ever carried out for Britain. Even more surprisingly in the latest and avowedly quantitative economic history textbook on Britain (Floud and McCloskey, 1981) there is no chapter on money. There is a brief dismissal of the role of money in the cycle.

Suggested Citation

  • Forrest Capie, 1991. "Money and Business Cycles in Britain, 1870–1913," International Economic Association Series, in: Niels Thygesen & Kumaraswamy Velupillai & Stefano Zambelli (ed.), Business Cycles, chapter 9, pages 207-228, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-11570-9_9
    DOI: 10.1007/978-1-349-11570-9_9
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    Cited by:

    1. Calvert Jump, Robert & Kohler, Karsten, 2022. "A history of aggregate demand and supply shocks for the United Kingdom, 1900 to 2016," Explorations in Economic History, Elsevier, vol. 85(C).

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