Home > Publications . Search All . Browse All . Country . Browse PSC Pubs . PSC Report Series

PSC In The News

RSS Feed icon

Work by Geronimus cited in account of Serena Williams' maternal health complications

Alexander and Massey compare outcomes for children whose parents did and did not take part in Great Migration

Geronimus on pushing past early dismissal of her weathering hypothesis

More News

Highlights

Robert Wood Johnson Foundation health leadership development programs accepting applications

AA named 2018 Best Place to Live in America (out of 100 cities)

Remembering Jim Morgan, founding member of ISR and creator of the PSID

1/17/18: ISR screening and discussion of documentary "Class Divide" at Michigan Theater

More Highlights

Next Brown Bag

Mon, Jan 22, 2018, noon: Narayan Sastry

Harvests and Business Cycles in Nineteenth-Century America

Publication Abstract

Davis, Joseph H., Christopher Hanes, and Paul W. Rhode. 2009. "Harvests and Business Cycles in Nineteenth-Century America." Quarterly Journal of Economics, 124(4): 1675-1727.

Most major American industrial business cycles from around 1880 to the First World War were caused by fluctuations in the size of the cotton harvest due to economically exogenous factors such as weather. Wheat and corn harvests did not affect industrial production; nor did the cotton harvest before the late 1870s. The unique effect of the cotton harvest in this period can be explained as an essentially monetary phenomenon, the result of interactions between harvests, international gold flows, and high-powered money demand under America's gold-standard regime of 1879–1914.

DOI:10.1162/qjec.2009.124.4.1675 (Full Text)

Country of focus: United States of America.

Browse | Search : All Pubs | Next