A New Monthly Index of Industrial Production, 1884-1940Christina Romer, Jeffrey A. Miron
NBER Working Paper No. 3172 The paper derives a new monthly index of industrial production for the United States for 1884-1940. This index improves upon existing measures of industrial production by excluding indirect proxies of industrial activity, by only using component series that are consistent over time, and by not making ad hoc adjustments to the data. Analysis of the new index shows that it has more within-year volatility than conventional indexes, has relatively unimportant seasonal fluctuations, and has cyclical turning points that are grossly similar to but subtly different from existing series.
Published: Journal of Economic History, Vol. 50, pp. 321-337, June 1990. This paper is available as PDF (324 K) or DjVu (267 K) (Download viewer) or via email.
|
Contact Us
People
James Poterba, presidentJames Poterba is President of the National Bureau of Economic Research. He is also the Mitsui Professor of Economics at M.I.T. |
NBER ResearchersResearchers by NBER ProgramComplete NBER Research Family List |
 |
Other People LinksStaffBoard of Directors |