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This paper presents insights on U.S. business cycle volatility since 1867 de- rived from diffusion indices. We employ a … volatility across World War I, which is reversed after World War II. While we can generate evidence of postwar moderation … for World War II where they support alternative estimates of Kuznets (1952). -- U.S. business cycle ; volatility ; dynamic …
Persistent link: https://www.econbiz.de/10003796122
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This paper provides quantitative evidence on interbank transmission of financial distress in the Panic of 1907 and ensuing recession. Originating in New York City, the panic led to payment suspensions and emergency currency issuance in many cities. Data on the universe of interbank connections...
Persistent link: https://www.econbiz.de/10014287370
economies? The paper develops a new comparative data set on the usage of electricity in the manufacturing sectors of the USA …
Persistent link: https://www.econbiz.de/10010252126
Persistent link: https://www.econbiz.de/10003793651
We use a Bayesian dynamic factor model to measure Germany's pre World War I economic activity. The procedure makes better use of existing time series data than historical national accounting. To investigate industrialization we propose to look at comovement between sectors. We find that...
Persistent link: https://www.econbiz.de/10003633999
growth volatility over the period 19501998. We find that a transition from pro-cyclical to countercyclical fiscal policy … ; growth volatility …
Persistent link: https://www.econbiz.de/10003990356
Persistent link: https://www.econbiz.de/10003804122
This study analyses the physical stature of runaway apprentices and military deserters based on advertisements collected from 18th-century newspapers, in order to explore the biological welfare of colonial and early-national Americans. The results indicate that heights declined somewhat at...
Persistent link: https://www.econbiz.de/10010440938
This paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U.S. We specify a structural dynamic factor model to identify financial and monetary factors separately for each of the two economies. We find that monetary transmission through...
Persistent link: https://www.econbiz.de/10003952982