THE CYCLICAL BEHAVIOR OF PRICES

被引：92

作者：

COOLEY, TF

OHANIAN, LE

机构：

[1] University of Rochester, Rochester

来源：

JOURNAL OF MONETARY ECONOMICS | 1991年 / 28卷 / 01期

基金：

美国国家科学基金会;

关键词：

D O I：

10.1016/0304-3932(91)90024-I

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The procyclical behavior of prices has been a staple of business cycle lore since the work of the early NBER business cycle researchers. This paper reexamines that empirical fact. The aggregate data do not support procyclical price movements as a stable feature of the business cycle. The only episode where it is a robust feature of the data is the period between the two world wars, particularly the period of the Great Depression. © 1991.

引用

页码：25 / 60

页数：36

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