Economic Fluctuations in the United States, 1921-1941

adjustment equation aggregate Agriculture assets assume assumption average billions of 1934 billions of current business firms capital gains class I railways coefficient constant dollars construction consumer consumption function converted to 1934 cost-of-living index Cowles Commission current dollars demand equation Department of Commerce disposable income dwelling units econometric Econometrica economic End-of-year endogenous variables entrepreneurs equa excess supply exogenous expenditures factors of production farm Federal Reserve fixed capital gross hence household housing hypotheses industry interest rate introduced investment Kuznets labor lagged least-squares linear liquidity marginal propensity measured in billions method multiplier national income output owner-occupied parameters perfect competition period plant and equipment price index private producers profit maximization random disturbance rate of change ratio reduced forms rent stock of capital structural equations taxes theory tion U. S. Department u₁ undesired inventories wages дх