A Small Open Economy in Depression: Lessons from Canada in the 1930s
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This paper tests the hypothesis that idiosyncratic U.S. disturbances and their international propagation can account for the global Depression. Exploiting common stochastic trends in U.S. and Canadian interwar data, we estimate a small open economy model for Canada that decomposes output
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美国国家经济研究局创建时间：
1993-11-01
