Degrees of Processing and Changes in the Cyclical Behavior of Prices in the Untied States, 1869-1990
AbstractPrice indices for periods before the Second World War place more weight on less-processed products than do their postwar counterparts to an extent that exaggerates the change over time in the composition of aggregate output. Prices of less-processed products are especially procyclical in levels and inflation rates. Thus, comparisons between historical and postwar series can give biased measures of changes in the cyclical behavior of the aggregate price level. Also, changes in the behavior of the aggregate price level must be distinguished from changes in the behavior of prices of given products, subject to a given degree of processing.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 31 (1999)
Issue (Month): 1 (February)
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Christina D. Romer, 1999.
"Changes in Business Cycles: Evidence and Explanations,"
NBER Working Papers
6948, National Bureau of Economic Research, Inc.
- Christina D. Romer, 1999. "Changes in Business Cycles: Evidence and Explanations," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 23-44, Spring.
- Alan Kackmeister, 2007. "Yesterday's Bad Times Are Today's Good Old Times: Retail Price Changes Are More Frequent Today Than in the 1890s," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(8), pages 1987-2020, December.
- Hanes, Christopher & Rhode, Paul W., 2013.
"Harvests and Financial Crises in Gold Standard America,"
The Journal of Economic History,
Cambridge University Press, vol. 73(01), pages 201-246, March.
- Christopher Hanes & Paul W. Rhode, 2012. "Harvests and Financial Crises in Gold-Standard America," NBER Working Papers 18616, National Bureau of Economic Research, Inc.
- Kevin X.D. Huang & Jonathan Willis, 2012. "Sectoral Interactions and Monetary Policy Under Costly Price Adjustments," 2012 Meeting Papers 883, Society for Economic Dynamics.
- Joseph H. Davis & Christopher Hanes & Paul W. Rhode, 2009.
"Harvests and Business Cycles in Nineteenth-Century America,"
NBER Working Papers
14686, National Bureau of Economic Research, Inc.
- Joseph H. Davis & Christopher Hanes & Paul W. Rhode, 2009. "Harvests and Business Cycles in Nineteenth-Century America," The Quarterly Journal of Economics, MIT Press, vol. 124(4), pages 1675-1727, November.
- Selgin, George & Lastrapes, William D. & White, Lawrence H., 2012. "Has the Fed been a failure?," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 569-596.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.