Britain in the International Economy, 1870}}}1939 [Paperback]

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.This book examines the insights that Keynesian macroeconomics offers into the economic history of the prewar British economy. It adopts a modern economic approach to issues such as unemployment, the price level and exchange rates in the period 1870-1939, making use of the latest advances in time series analysis and macroeconomics. In addition to being of interest to economic historians, it is relevant to economists concerned with current policy issues, since it shows how far correct policy choices depend on particular historical circumstances. This book examines the insights that Keynesian macroeconomics offers into the economy.Foreword Bryan H. Sadler; 1. British macroeconomic history 18701939: overview and key issues S. N. Broadberry and N. F. R. Crafts; 2. An economic historians' introduction to modern time series techniques in econometrics Terence C. Mills; Part I. Great Britain and Fluctuations Under The Gold Standard 18701914: 3. The gold standard since Alec Ford Barry Eichengreen; 4. British economic fluctuations in the nineteenth century: is there a role for money? Forrest Capie; 5. British economic fluctuations 18511913: a perspective based olS®