EconPapers    
Economics at your fingertips  
 

A new monthly chronology of the US industrial cycles in the prewar economy

Amelie Charles, Olivier Darné, Claude Diebolt () and Laurent Ferrara ()

No 2011-27, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: This article extends earlier efforts at redating the US industrial cycles for the prewar period (1890–1938) using the methodologies proposed by Bry and Boschan (1971) and Hamilton (1989) and based on the monthly industrial production index constructed by Miron and Romer (1990). The alternative chronology detects 90% of the peaks and troughs identified by the NBER and Romer (1994), but the new dates are consistently dated earlier for more than 50% of them, especially as regards the NBER troughs. The new dates affect the comparison of the average duration of recessions and expansions in both pre-WWI and interwar eras. Whereas the NBER reference dates show an increase in average duration of the expansions between the pre-WWI and interwar periods, the new dates show evidence of shortened length of expansions. However, the new dates confirm the traditional finding that the length of contractions increases between the both eras.

Keywords: Industrial business cycle; Dating chronology (search for similar items in EconPapers)
JEL-codes: C22 E32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://economix.fr/pdf/dt/2011/WP_EcoX_2011-27.pdf (application/pdf)

Related works:
Journal Article: A new monthly chronology of the US industrial cycles in the prewar economy (2015) Downloads
Working Paper: A new monthly chronology of the US industrial cycles in the prewar economy (2015) Downloads
Working Paper: A new monthly chronology of the US industrial cycles in the prewar economy (2015)
Working Paper: A new monthly chronology of the US industrial cycles in the prewar economy (2015)
Working Paper: A new monthly chronology of the US industrial cycles in the prewar economy (2012) Downloads
Working Paper: A new monthly chronology of the US industrial cycles in the prewar economy (2012) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2011-27

Access Statistics for this paper

More papers in EconomiX Working Papers from University of Paris Nanterre, EconomiX Contact information at EDIRC.
Bibliographic data for series maintained by Valerie Mignon ().

 
Page updated 2019-11-15
Handle: RePEc:drm:wpaper:2011-27