Arbeitspapier
Measuring Inflation Expectations in Interwar Britain
What caused the recovery from the British Great Depression? A leading explanation - the “expectations channel” - suggests that a shift in expected inflation lowered real interest rates and stimulated consumption and investment. However, few studies have measured, or tested the economic consequences of, inflation expectations. In this paper, we collect high-frequency information from primary and secondary sources to measure expected inflation in the United Kingdom between the wars. A VAR model suggests that inflation expectations were an important source of the early stages of economic recovery in interwar Britain.
- Language
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Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 9425
- Classification
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Wirtschaft
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: 1913-
- Subject
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policy regime change
economic history
Great Depression
- Event
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Geistige Schöpfung
- (who)
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Lennard, Jason
Meinecke, Finn
Solomou, Solomos
- Event
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Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
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2021
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Lennard, Jason
- Meinecke, Finn
- Solomou, Solomos
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2021
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