 Generating Cycles Reflected in a Century of PricesHenry Ludwell Moore The Quarterly Journal of Economics, 1921, vol. 35, issue 4, 503-526 Abstract: Cycles of approximately eight years in the yield per acre of British crops have probably recurred in a continuous series during the last one hundred and sixty years. In consequence of the law of demand, these crop cycles have generated corresponding cycles in the prices of food and of organic raw materials. In conformity with the law of competitive price, the cycles in the prices of food and of raw materials should have been followed by corresponding cycles in the prices of manufactured commodities. As a matter of fact, the analysis of Sauerbeck's index numbers of general wholesale reveals real cycles of approximately eight years in which the originating, generating crop cycles are reflected throughout the century for which the Sauerbeck index numbers have been computed. The principal results of the investigation appear in the graphs of Figures 5 and 6. I. Data and method, 504. — II. An analysis of a century of prices, 508. — III. Crop cycles as generating cycles, 515. Date: 1921 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:oup:qjecon:v:35:y:1921:i:4:p:503-526. Ordering information: This journal article can be ordered from Access Statistics for this article The Quarterly Journal of Economics is currently edited by Robert J. Barro, Lawrence F. Katz, Nathan Nunn, Andrei Shleifer and Stefanie Stantcheva More articles in The Quarterly Journal of Economics from President and Fellows of Harvard College |
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