3BETA - Bureau d'Économie Théorique et Appliquée (Université de Lorraine, UFR Droit Sciences Economiques et Gestion, 13 place Carnot CO 70026, 54035 Nancy Cedex
Université de Strasbourg, Faculté des Sciences Economiques et de Gestion, 61 avenue de la Forêt Noire 67085 Strasbourg Cedex
- 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.
https://hal-audencia.archives-ouvertes.fr/hal-01122519 Contributor : Amelie CharlesConnect in order to contact the contributor Submitted on : Wednesday, April 29, 2015 - 3:31:16 PM Last modification on : Thursday, April 28, 2022 - 4:02:58 PM Long-term archiving on: : Wednesday, April 19, 2017 - 10:13:02 AM
Amélie Charles, Olivier Darné, Claude Diebolt. A revision of the US business-cycles chronology 1790-1928. Economics Bulletin, Economics Bulletin, 2014, 34 (1), pp.234-244. ⟨hal-01122519⟩