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-off” period's high rates of economic growth and relatively-low volatility enabled the U.S. economy to escape downturns despite the …
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Most major American industrial business cycles from around 1880 to the First World War were caused by fluctuations in the size of the cotton harvest due to economically exogenous factors such as weather. Wheat and corn harvests did not affect industrial production; nor did the cotton harvest...
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The NBER's pre-WWI chronology of annual peaks and troughs has the remarkable implication that the U.S. economy spent …
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