The Causes of American Business Cycles: An Essay in Economic Historiography / Peter Temin.

Format:

Book

Author/Creator:

Temin, Peter.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w6692.

NBER working paper series no. w6692

Language:

English

Subjects (All):

Business cycles--Econometric models.

Business cycles.

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

The Causes of American Business Cycles

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1998.

Cambridge, Massachusetts : National Bureau of Economic Research, 1998.

Summary:

This paper surveys the causes of American business cycles for the century 1890 - 1990. Causes are taken to be exogenous shocks to a model with largely endogenous policy makers. Causes are classified as either real or monetary and domestic or foreign. All four causes were found to have led to cycles in the past century. This diversity was found in all time periods and for all size cycles. There were more domestic than foreign causes, confirming the relative independence of the American economy from external conditions. There were more real than monetary causes, conflicting with the popular view that monetary shocks are the source of most cycles.

Notes:

Print version record

August 1998.