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

Author

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  • Garcia-Iglesias, C.

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.

Suggested Citation

  • Garcia-Iglesias, C., 1999. "The Transmission of International Business Cycles Shocks: Evidence from the European Periphery, 1861-1913," Papers 99/4, European Institute - History.
    • Handle: RePEc:fth:eurohi:99/4
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    Keywords

    ECONOMIC HISTORY ; BUSINESS CYCLES;

    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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