Thursday, August 28, 2014

Improved estimate of pre-Depression currency in circulation

I found this interesting data set from FRED on the currency in circulation in the US from 1875 to 1914 [1] , which allows me to improve the estimate I used here to look at the pre-Great Depression trend. Here is the updated graph (the spike in currency in WWI was much sharper than previously shown):

[1] Other Fed data on currency goes back to 1918, leaving 1914-1918 still undetermined, hence it's still an estimate in the region shown in the graph.

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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.