Britain in the International Economy, 1870–1939
S N Broadberry editor N F R Crafts editor
Format:Paperback
Publisher:Cambridge University Press
Published:5th Nov '09
Currently unavailable, and unfortunately no date known when it will be back
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- Hardback£116.00(9780521418591)
A review of the impact of Keynesian macroeconomics on research on the prewar British economy during the 1950s and 1960s.
During the 1950s and 1960s, research on the prewar British economy was influenced strongly by ideas from Keynesian macroeconomics. It is important to reexamine this period of history, asking to what extent the Keynesian vision offers useful insights into advances in time series analysis as well as developments in macroeconomics to answer this question.During the 1950s and 1960s, research on the prewar British economy was influenced strongly by ideas from Keynesian macroeconomics. It is important to reexamine this period of history, asking to what extent the Keynesian vision offers useful insights into advances in time series analysis as well as developments in macroeconomics to answer this question. They show that a modified Keynesian approach continues to offer useful insights into this period of history. In particular, in the face of wage and price rigidities, shocks to aggregate demand are seen as an important source of fluctuations in real output and unemployment. Furthermore, a rigid attachment to simple rules rather than the exercise of discretion in policy making is seen to have had serious costs in the disturbed environment of the interwar period.
ISBN: 9780521122603
Dimensions: 229mm x 152mm x 25mm
Weight: 650g
444 pages