Friday, January 16, 2009

Industrial Production 1929 and 2008


Here's an update through Dec 2008. Pessimistic interpretation: 2008 is 1/3 as bad as 1929. 1/3 of the Great Depression would not be good.
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2 comments:

  1. UnknownJanuary 16, 2009 at 1:18:00 PM CST

    Professor,

    How does this compare to the recent appreciation of the dollar? Also, what percentage of the economy does industrial production make up?

    Thanks in advance,

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  2. TinoJanuary 17, 2009 at 3:51:00 PM CST

    http://www.minneapolisfed.org/publications_papers/studies/recession_perspective/index.cfm

    More optimistic data.

    Alberto industry was 40% of GDP in the 1920s-30s, and is slightly above 20% of GDP today (of which manufacturing is ca 12%).

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