The question at issue is whether estimates of GNP and unemployment before 1930 exaggerate cyclical volatility enough to produce a false impression of increasing economic stability over the twentieth century. Based on research to be reported in detail at a later date, the answer is no. The range of possible exaggerations is small relative to the observed change.
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Volume (Year): 46 (1986) Issue (Month): 02 (June) Pages: 353-365 Download reference. The following formats are available: HTML
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