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Exchange rates, tariffs and prices in 1930s Britain

Chadha, Jagjit S., Lennard, Jason ORCID: 0000-0002-6700-8969, Solomou, Solomos and Thomas, Ryland (2023) Exchange rates, tariffs and prices in 1930s Britain. Economic History Working Papers (351). Department of Economic History, London School of Economics and Political Science, London, UK.

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Abstract

This paper investigates the degree of pass-through from import prices and tariffs to wholesale prices in interwar Britain using a new high-frequency micro data set. The main results are: (i) Pass-through from import prices and tariffs to wholesale prices was economically and statistically significant. (ii) Despite devaluation, import prices exacerbated deflation in the early 1930s because of the global slump in export prices. (iii) Rising protection, however, was a mild stimulus to prices during the shift to inflation.

Item Type: Monograph (Working Paper)
Official URL: https://www.lse.ac.uk/Economic-History/Working-Pap...
Additional Information: © 2023 The Authors
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
JEL classification: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level; Inflation; Deflation
F - International Economics > F1 - Trade > F13 - Commercial Policy; Protection; Promotion; Trade Negotiations; International Trade Organizations
N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N14 - Europe: 1913-
Date Deposited: 22 Feb 2023 11:15
Last Modified: 15 Sep 2023 23:59
URI: http://eprints.lse.ac.uk/id/eprint/118237

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