Description: This is a study of the European macroeconomy during the period of the Industrial Revolution from 1700 to 1910. The book considers the details of the development of the macroeconomies of the five European countries for which adequate data are available: the United Kingdom, France, Germany, Italy and Sweden. While the general approach is to address important questions in the literature for each country from a macroeconomic perspective, each situation is approached in approximately the same way, with material describing the aggregate numbers preceding original econometric work for each country. The econometric material consists of structural and Granger-causality procedures as well as some formal time-series tests. In addition, for each country there is a description of the micro data on industrialization itself and on the development of the banking system. The last chapter contains much of what is the underlying theme of the study to demonstrate the cohesiveness of the European economy during the Industrial Revolution.

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