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The business cycle and chain-weighted GDP: has our perspective changed?

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  • Michael R. Pakko

Abstract

Our perspective on the U.S. economy's recent performance has been challenged recently by changes in the methodology used to adjust the National Income and Product Accounts for inflation. Michael R. Pakko surveys the changes embodied in the revised data, examining the question of whether or not the revisions alter our view of the overall pattern of economic fluctuations known collectively as the business cycle.

Suggested Citation

  • Michael R. Pakko, 1997. "The business cycle and chain-weighted GDP: has our perspective changed?," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 39-49.
    • Handle: RePEc:fip:fedlrv:y:1997:i:sep:p:39-49
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    References listed on IDEAS

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    1. King, Robert G. & Plosser, Charles I. & Rebelo, Sergio T., 1988. "Production, growth and business cycles : I. The basic neoclassical model," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 195-232.
    2. Finn E. Kydland & Edward C. Prescott, 1990. "Business cycles: real facts and a monetary myth," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 14(Spr), pages 3-18.
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    Cited by:

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    2. Victor E. Li, 1999. "Can market-clearing models explain U.S. labor market fluctuations?," Review, Federal Reserve Bank of St. Louis, vol. 81(Jul), pages 35-49.
    3. Armando Ibarra, 1999. "Indíce Encadenado de la Tasa de Cambio Real Regional Ponderado por el Comercio de Exportación," Borradores de Economia 122, Banco de la Republica de Colombia.

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    Keywords

    Business cycles; Gross domestic product;

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