Contributions are made by this paper in three areas, methodological, data creation, and empirical. The methodological section finds that, while structural model building exercises may be useful in suggesting lists of variables that may play an explanatory role in investment equations, they...

The paper develops new methodology for the estimation of prewar GNP, taps previously unused data sources, and develops new estimates for the periods 1869-08 and 1869-28. Primary among the new data sources are direct measures of output in the transportation, communications, and construction...

The Phillips curve was init-ally formulated as a relationship between the rate of change and unemployment, yet what matters for stabilization policy is the rate of inflation, not the rate of wage change. This paper provides new estimates of Phillips curves for both prices and wages extending...