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A Revision of the US Business-Cycles Chronology 1790–1928

Author

Listed:
  • Charles Amélie

    (Audencia Nantes, School of Management, 8 route de la Jonelière, 44312 Nantes Cedex 3, France.)

  • Darné Olivier

    (EMNA, University of Nantes, IEMN–IAE, Chemin de la Censive du Tertre, BP 52231, 44322 Nantes, France.)

  • Claude Diebolt

    (BETA/CNRS, Université de Strasbourg, France.)

Abstract

This article extends earlier efforts at redating the US business cycles for the 1790-1928 period using the real Gross Domestic Product (GDP) constructed by Johnson and Williamson (2008). The resulting chronology alters more than 50% percent of the peaks and troughs identified by the NBER and Davis (2006)'s chronologies, especially during the antebellum period, and removes those cycles long considered the most questionable, as growth or industrial cycles. An important result of the new chronology is the lack of discernible differences in the frequency and duration of US business cycles among the antebellum and postbellum periods. We also find that the average frequency and duration of contractions are less important than those of expansions.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Charles Amélie & Darné Olivier & Claude Diebolt, 2011. "A Revision of the US Business-Cycles Chronology 1790–1928," Working Papers 11-01, Association Française de Cliométrie (AFC).
  • Handle: RePEc:afc:wpaper:11-01
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    References listed on IDEAS

    as
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    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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