Using different inflation measures produces economically significant differences in both the inflation record and inflation-adjusted stock returns. We introduce a more consistent measure of the monthly Consumer Price Index (CPI) inflation rate to better measure real returns over 1913-2004, for...

This collection of twelve essays is based on the premise that a better understanding of the economic development process can be gained by studying the history of those countries that have experienced long-term economic success, in this case the United States during the nineteenth century - that...