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13 - Exchange Rates, Tariffs and Prices in 1930s Britain
- By Jagjit S. Chadha, Jason Lennard, Solomos Solomou, Ryland Thomas
Edited by Patricia Clavin, University of Oxford, Giancarlo Corsetti, University of Cambridge, Maurice Obstfeld, Peterson Institute for International Economics, Washington DC, Adam Tooze, Columbia University, New York
Book:

Keynes's <i>Economic Consequences of the Peace</i> after 100 Years

Published online:

14 December 2023

Print publication:

25 January 2024, pp 325-363
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Summary

This chapter 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.

Prospects for the UK economy
Amit Kara, Arno Hantzsche, Jason Lennard, Cyrille Lenoel, Marta Lopresto, Rebecca Piggott, Garry Young
Journal:

National Institute Economic Review / Volume 245 / August 2018

Published online by Cambridge University Press:

01 January 2020, pp. F10-F40

Print publication:

August 2018
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World Overview
Graham Hacche, Arno Hantzsche, Jason Lennard, Cyrille Lenoel, Iana Liadze, Rebecca Piggott, Craig Thamotheram
Journal:

National Institute Economic Review / Volume 242 / November 2017

Published online by Cambridge University Press:

01 January 2020, pp. F43-F50

Print publication:

November 2017
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Prospects for the UK Economy
Amit Kara, Arno Hantzsche, Jason Lennard, Cyrille Lenoel, Rebecca Piggott, Craig Thamotheram, Garry Young
Journal:

National Institute Economic Review / Volume 242 / November 2017

Published online by Cambridge University Press:

01 January 2020, pp. F10-F42

Print publication:

November 2017
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