Conference on Business Cycles

By National Bureau Committee for Economic Research | Go to book overview

Appendix B SOURCES OF DATA AND CONSTRUCTION OF TIME SERIES
Construction of time series for 1942 and later, and for the few of Klein's figures for years before 1942 that were revised, is indicated below. My time series are intended to be as consistent as possible with Klein's, since they are extensions of Klein's. The variables denoted by numbers in parentheses correspond to those in the appendices to Klein (11, 13), with the exception of my numbers (13), (14), (15), and (38). The following abbreviations are used:
BAE: Bureau of Agricultural Economics
BLS: Bureau of Labor Statistics
C.C.M.: Construction and Construction Materials
F.R.B.: Federal Reserve Bulletin
H.L.S.: Handbook of Labor Statistics
Klein: L. R. Klein, The Use of Econometric Models as a Guide to
Economic Policy, Econometrica, 15 ( 1947), pp. 111-51.
M.L.R.: Monthly Labor Review
S.A. U.S.: Statistical Abstract of the United States
S.C.B.: Survey of Current Business
C: consumption, in billions of 1934 dollars.
1. = consumer expenditures, Department of Commerce old series, S.A.U.S., 1947, p. 273, for years through 1946. 1947-48 values were obtained from a regression ( 1939-46) of the old series on the new series ( S.C.B., July 1948, p. 16, Table 2; and July 1949, p. 10, Table 2).
2. = imputed rents on owner-occupied residences, S.C.B., July 1948, p. 24, Table 30; and July 1949, p. 23, Table 30.
3. = price index of consumption goods, 1934: 1.00, weighted average of the BLS consumers' price index for moderate-income families in large cities ( M.L.R., Table D-1) and the BAE index of prices paid by farmers for living ( S.A.U.S., 1948, p. 642, and S.C.B., Feb. 1949, p. S-4). The weights are proportional to the urban and rural populations, respectively1 ( S.A.U.S., 1946, p. 14; 1947, p. 15; and 1948, p. 15; and U. S. Bureau of Census, Current Population Reports, Series P-20, No. 22, p. 6).
____________________
1
Weights used were, respectively: 1944, .596 and .404; 1945, .586 and .414; 1946. .600 and .400; 1947, .590 and .410; 1948, .584 and .416.

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