American Business Cycle Volatility in Historical Perspective: Revised Estimates of Real GDP, 1869-1913
Mark Siegler ()
Department of Economics Working Papers from Department of Economics, Williams College
This paper examines the magnitude and timing of American business cycles from 1869 to 1928, with particular emphasis on the pre-World War I period. A new real output series is constructed which resurrects the conclusion that pre-World War I business cycles were twice as severe as post-World War II business cycles.
Keywords: BUSINESS CYCLES; ECONOMIC HISTORY; BUSINESS CYCLES (search for similar items in EconPapers)
JEL-codes: E32 N11 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:wil:wileco:184
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