Fed paper details highs and lows in Spanish economic activity

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Two researchers from different arms of the Federal Reserve have produced a working paper that provides A Chronology of Turning Points in Economic Activity: Spain 1850–2011.

Travis Berge of the Kansas City Fed and Òscar Jordà from the San Francisco Fed and University of California Davis offer a systematic historical chronology of business cycle turning points for Spain. Starting from 1850, the paper gives annual updates and after 1939, monthly snippets are found.

Using modern statistical tools of

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