British Episodic Economic Growth 1850-1938
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Authors
Solomou, Solomos
Ristuccia, Cristiano A.
Publication Date
2004-06-16Series
Cambridge Working Papers in Economics
Publisher
Faculty of Economics
Language
en_GB
Type
Working Paper
Metadata
Show full item recordCitation
Solomou, S., & Ristuccia, C. A. (2004). British Episodic Economic Growth 1850-1938. https://doi.org/10.17863/CAM.4984
Abstract
This paper argues that non-random measurement errors in the estimates of British Gross Domestic Product makes the compromise estimate a biased indicator of medium-term economic growth. Since the compromise estimate of GDP has been widely accepted and used to describe macroeconomic trends in the British economy this has resulted in descriptions of British economic growth that are best explained as statistical artifacts. This paper questions the existence of an à ¯à ¿à ½Edwardian Climactericà ¯à ¿à ½, argues for a rethinking of the myth of the à ¯à ¿à ½Great Depressionà ¯à ¿à ½ and offers new insights on inter-war economic growth.
Keywords
economic growth, economic cycles, Classification-JEL: N13, N14, O52, economic history
Identifiers
This record's DOI: https://doi.org/10.17863/CAM.4984
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