Will business cycles in the Euro Area converge : a critical survey of empirical research

Preprint
Publisher Website
Google Scholar
  • 1 January 2005
    • preprint
      • Published in RePEc
Abstract
The industrial revolution is mostly seen as a supply side phenomenon. Ever since Gilboy stated that factors of demand may have been equally important, scholars have stressed the importance of investments and technological change. This paper re-considers Gilboy?s ideas, using the dataset of the Dutch historical national accounts for the nineteenth century. Using a counterfactual VAR analysis, it is investigated to what extent changes in (determinants of) consumer demand may have affected patterns of industrial development.
All Related Versions

This publication has 0 references indexed in Scilit: