Migration and business cycles

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Monograph

Identifikator:: 1736236210

URN:: urn:nbn:de:zbw-retromon-111544

Document type:: Monograph

Author:: Jerome, Harry

Title:: Migration and business cycles

Place of publication:: New York

Publisher:: National Bureau of Economic Research

Year of publication:: 1926

Scope:: 256 S.

Digitisation:: 2020

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IV. Immigration and business cycles prior to 1890

Collection:: Economics Books

0 MIGRATION AND BUSINESS CYCLES An examination of Chart 10 reveals that, on the whole, particular- ly after the Civil War, each of the marked swells or troughs in the import curve 1s accompanied, in the same year or within the suc- ceeding year or two, by a somewhat similar fluctuation in im- migration. This fact may be made more obvious by concentrating our attention on those periods which are customarily designated as depression years. CHART 10 CycLEs IN IMPORTS OF MEN AND OF MERCHANDISE: 1820-1923. Unit= one standard deviation — _ ey } “0 - +—1 — ‘Note the greasy yar 1870 80 f camo] lo 20 — © IIMERATION +10 « ! I Cm ST) SES | } . a » ee \ | 20 [i a... : Hw hy irr ar dav avo «Numerical data in Table 18. The discussion of periods of prosperity and depression in the United States in the following paragraphs, and in European coun- tries in subsequent sections of this report, rests chiefly upon the recently published Business Annals compiled by Dr. Willard 1. Thorp, of the staff of the National Bureau of Economic Research. The first period of dullness after 1820 comes in 1826, following the crisis of 1825. Both immigration and imports declined in 1826, and imports continued to decline in 1827. The ready interpretation of the evidence, however, is rendered somewhat difficult by the fact that in this period neither the immigration nor import data refer to years ending December 31st. 1See footnote (c) to Table 18.

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