Changes in the Recession Behavior of Wholesale Prices: The 1920s and Post World War II

Phillip Cagan

No 35, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The present study examines the recession behavior of wholesale prices since World War II and compares it with the 1920s as the most recent period of earlier recessions with comparable severity. The focus is on changes in recession behavior, possible bias in the data, and differences in behavior between various groups of wholesale prices. (Differences between wholesale and consumer prices, though of importance, are not examined here.) The purpose is to extend the evidence on the degree and uniformity of the change in price behavior and to test various interpretations of those changes.

Date: 1974-03
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Published as Explorations in Economic Research, Volume 2, number 1. National Bureau of Economic Research, Inc, 1975.

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Chapter: Changes in the Recession Behavior of Wholesale Prices in the 1920s and Post-World War II (1975)
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