par Wallusch, Jacek;Baltzer, Markus
Référence Brussels economic review, 52, 3/4, page (275-288)
Publication Publié, 2009
Référence Brussels economic review, 52, 3/4, page (275-288)
Publication Publié, 2009
Article révisé par les pairs
| Résumé : | This paper tries to elucidate the relationship between innovations, interest rate and price movement in Imperial Germany (1878-1913). We use the high-powered patents as a proxy for changes in technology. Using various distributed lag models we found a small, positive and significant response of CPI inflation to the technological shock. No significant influence of interest rates on inflation was found. |
