Comment (on Robert J. Gordon)

2012-08-01T00:00:00Z (GMT) by Allan Meltzer

Robert J. Gordon has undertaken to explain the rate of price change in each of the past 87 years. I applaud his effort because I believe that much more can be learned from studies of these annual data, despite the imprecision of the data for earlier years, than from additional studies of quarterly data for the past three decades.