Economic Fluctuations in the United Kingdom, 1750-1938

Sammanfattning: This dissertation investigates the causes of economic fluctuations in the United Kingdom between the Industrial Revolution and the Second World War. The first part of the dissertation studies the micro origins of fluctuations by focusing on regional variation and its aggregate implications. Chapter 1 constructs estimates of the money supply in Ireland between 1840 and 1921. Chapter 2 develops annual estimates of real gross domestic product in Ireland between 1842 and 1913 using an original econometric methodology. The second part of the dissertation studies the macro origins of fluctuations using the narrative record to identify the causal effect of macroeconomic shocks. Chapter 3 examines how monetary policy affected the economy during the classical gold standard. Chapter 4 analyses the impact of economic policy uncertainty in the interwar period. Chapter 5 measures the macroeconomic effects of banking crises between 1750 and 1938.