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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w11157 |
来源ID | Working Paper 11157 |
An Improved Annual Chronology of U.S. Business Cycles since the 1790's | |
Joseph H. Davis | |
发表日期 | 2005-02-28 |
出版年 | 2005 |
语种 | 英语 |
摘要 | The NBER's pre-WWI chronology of annual peaks and troughs has the remarkable implication that the U.S. economy spent nearly every other year in recession, although previous research has argued that the post-Civil War dates are flawed. This paper extends that research by redating annual peaks and troughs for the entire 1796-1914 period using a single metric: Davis' (2004) annual industrial production index. The new pre-WWI chronology alters more than 40% of the peak and troughs, and removes cycles long considered the most questionable. An important implication of the new chronology is the lack of discernible differences in the frequency and duration of industrial cycles among the pre-Civil War, Civil War to WWI, and post-WWII periods. Of course, my comparison between pre-WWI and post-WWII cycles is limited by its reliance on a single annual index (as opposed to many monthly series) that is less comprehensive than GDP. |
主题 | History ; Macroeconomic History ; Macroeconomics ; Business Cycles |
URL | https://www.nber.org/papers/w11157 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/568794 |
推荐引用方式 GB/T 7714 | Joseph H. Davis. An Improved Annual Chronology of U.S. Business Cycles since the 1790's. 2005. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w11157.pdf(181KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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