Changes in the Cyclical Behavior of Individual Production Series / Christina D. Romer.

Format:

Book

Author/Creator:

Romer, Christina D.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w2440.

NBER working paper series no. w2440

Language:

English

Subjects (All):

Business cycles--Mathematical models.

Business cycles.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1987.

Cambridge : National Bureau of Economic Research, 1987.

Summary:

This paper uses simple time series techniques to analyze changes in the short-run behavior of 38 physical production series for 1889-1984. The main finding is that fluctuations in these output series in the periods 1889-1914 and 1947-1984 are very similar, while those in the period 1922- 1939 are anomalous. Relative to the prewar era, the postwar era exhibits only a slight damping of fluctuations and no increase in the persistence of short-run movements. At the same time, the correlation between the growth rates of the 38 goods is very low in both the prewar and postwar eras and has declined slightly over time.

Notes:

Print version record

November 1987.