The climacteric in late victorian Britain and France: A reappraisal of the evidence
维多利亚时代后期英法经济增长转折:证据的重新评估
Abstract The paper investigates the question of whether the trend rate of growth of GDP slowed down in Britain or France in the nineteenth century. We establish that real GDP belongs to the trend‐stationary process class of time‐series in each case rather than the difference‐stationary process and using Kalman filter techniques, analyse trends in a model incorporating time‐varying parameters without specifying breakpoints in advance. We find, contrary to the literature, that…