Changes in the Recession Behavior of Wholesale Prices: The 1920s and Post World War II / Phillip Cagan.

By:

Cagan, Phillip

Contributor(s):

National Bureau of Economic Research

Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w0035.Publication details: Cambridge, Mass. National Bureau of Economic Research 1974.Description: 1 online resource: illustrations (black and white)Online resources:

Available additional physical forms:

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Abstract: The present study examines the recession behavior of wholesale prices since World War II and compares it with the 1920s as the most recent period of earlier recessions with comparable severity. The focus is on changes in recession behavior, possible bias in the data, and differences in behavior between various groups of wholesale prices. (Differences between wholesale and consumer prices, though of importance, are not examined here.) The purpose is to extend the evidence on the degree and uniformity of the change in price behavior and to test various interpretations of those changes.

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Working Paper	Biblioteca Digital	Colección NBER	nber w0035 (Browse shelf(Opens below))	Not For Loan

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March 1974.

The present study examines the recession behavior of wholesale prices since World War II and compares it with the 1920s as the most recent period of earlier recessions with comparable severity. The focus is on changes in recession behavior, possible bias in the data, and differences in behavior between various groups of wholesale prices. (Differences between wholesale and consumer prices, though of importance, are not examined here.) The purpose is to extend the evidence on the degree and uniformity of the change in price behavior and to test various interpretations of those changes.