Title: Security Yields for France Series ID: M13027FRM156NNBR Source: National Bureau of Economic Research Release: NBER Macrohistory Database (Not a Press Release) Seasonal Adjustment: Not Seasonally Adjusted Frequency: Monthly Units: Percent Date Range: 1898-01-01 to 1939-07-01 Last Updated: 2012-08-20 8:18 AM CDT Notes: According To The 1928 Journal De La Societe De Statistique, In 1913 The Average Net Yield Equalled 3.78% For A Portfolio Of 180 Securities Of Varying Return. Starting From This Yield And Using The Monthly Index Of Security Prices And Earnings On The Base 1913=100, The Net Yield For Each Month Of The Period Examined Was Calculated. Data For 1932-1935 Are Listed In The Source Under "France. Banque; Valeurs..." On The Second Page Of Each Bulletin, Under The General Heading "Indices Economiques". Source: Statistique Generale, Data For 1898-1914: Jean Dessirier In Journal De La Societe De Statistique De Paris, February 1929, Pp. 80-83. Data For 1919-1931: Indices Generaux Du Movement Economique En France De 1901 A 1931, Pp. 143-145, 160. Data For 1932-1939: Bulletin De La Statistique Generale. This NBER data series m13027 appears on the NBER website in Chapter 13 at http://www.nber.org/databases/macrohistory/contents/chapter13.html. NBER Indicator: m13027 DATE VALUE 1898-01-01 3.78 1898-02-01 3.78 1898-03-01 3.78 1898-04-01 3.83 1898-05-01 3.83 1898-06-01 3.83 1898-07-01 3.68 1898-08-01 3.68 1898-09-01 3.68 1898-10-01 3.68 1898-11-01 3.68 1898-12-01 3.68 1899-01-01 3.78 1899-02-01 3.65 1899-03-01 3.65 1899-04-01 3.60 1899-05-01 3.69 1899-06-01 3.84 1899-07-01 3.88 1899-08-01 3.88 1899-09-01 3.83 1899-10-01 3.74 1899-11-01 3.78 1899-12-01 3.88 1900-01-01 3.83 1900-02-01 3.70 1900-03-01 3.74 1900-04-01 3.70 1900-05-01 3.78 1900-06-01 3.89 1900-07-01 3.98 1900-08-01 3.88 1900-09-01 3.93 1900-10-01 4.04 1900-11-01 3.98 1900-12-01 3.83 1901-01-01 3.73 1901-02-01 3.68 1901-03-01 3.68 1901-04-01 3.63 1901-05-01 3.63 1901-06-01 3.73 1901-07-01 3.78 1901-08-01 3.78 1901-09-01 3.83 1901-10-01 3.90 1901-11-01 3.90 1901-12-01 3.90 1902-01-01 3.73 1902-02-01 3.73 1902-03-01 3.67 1902-04-01 3.73 1902-05-01 3.78 1902-06-01 3.83 1902-07-01 3.90 1902-08-01 3.96 1902-09-01 3.96 1902-10-01 3.96 1902-11-01 3.96 1902-12-01 3.96 1903-01-01 3.96 1903-02-01 3.90 1903-03-01 3.90 1903-04-01 4.07 1903-05-01 4.07 1903-06-01 4.13 1903-07-01 4.13 1903-08-01 4.07 1903-09-01 4.07 1903-10-01 4.00 1903-11-01 4.07 1903-12-01 4.18 1904-01-01 4.31 1904-02-01 4.38 1904-03-01 4.30 1904-04-01 4.25 1904-05-01 4.43 1904-06-01 4.36 1904-07-01 4.36 1904-08-01 4.30 1904-09-01 4.17 1904-10-01 4.00 1904-11-01 4.00 1904-12-01 4.00 1905-01-01 3.99 1905-02-01 3.88 1905-03-01 3.94 1905-04-01 3.98 1905-05-01 3.93 1905-06-01 3.98 1905-07-01 3.93 1905-08-01 3.83 1905-09-01 3.83 1905-10-01 3.83 1905-11-01 3.93 1905-12-01 4.14 1906-01-01 4.18 1906-02-01 4.07 1906-03-01 4.07 1906-04-01 4.13 1906-05-01 4.13 1906-06-01 4.17 1906-07-01 4.28 1906-08-01 4.07 1906-09-01 4.12 1906-10-01 4.06 1906-11-01 4.01 1906-12-01 4.11 1907-01-01 4.01 1907-02-01 3.97 1907-03-01 4.16 1907-04-01 4.16 1907-05-01 4.26 1907-06-01 4.37 1907-07-01 4.32 1907-08-01 4.32 1907-09-01 4.32 1907-10-01 4.38 1907-11-01 4.38 1907-12-01 4.32 1908-01-01 4.22 1908-02-01 4.16 1908-03-01 4.16 1908-04-01 4.16 1908-05-01 4.22 1908-06-01 4.15 1908-07-01 4.15 1908-08-01 4.05 1908-09-01 4.05 1908-10-01 4.02 1908-11-01 3.97 1908-12-01 4.02 1909-01-01 3.97 1909-02-01 3.92 1909-03-01 3.87 1909-04-01 3.87 1909-05-01 3.82 1909-06-01 3.82 1909-07-01 3.87 1909-08-01 3.82 1909-09-01 3.74 1909-10-01 3.70 1909-11-01 3.74 1909-12-01 3.74 1910-01-01 3.70 1910-02-01 3.66 1910-03-01 3.70 1910-04-01 3.70 1910-05-01 3.78 1910-06-01 3.82 1910-07-01 3.83 1910-08-01 3.74 1910-09-01 3.70 1910-10-01 3.70 1910-11-01 3.74 1910-12-01 3.74 1911-01-01 3.70 1911-02-01 3.70 1911-03-01 3.74 1911-04-01 3.70 1911-05-01 3.70 1911-06-01 3.66 1911-07-01 3.78 1911-08-01 3.78 1911-09-01 3.86 1911-10-01 3.71 1911-11-01 3.71 1911-12-01 3.71 1912-01-01 3.65 1912-02-01 3.63 1912-03-01 3.58 1912-04-01 3.51 1912-05-01 3.41 1912-06-01 3.44 1912-07-01 3.51 1912-08-01 3.41 1912-09-01 3.35 1912-10-01 3.55 1912-11-01 3.51 1912-12-01 3.59 1913-01-01 3.55 1913-02-01 3.63 1913-03-01 3.70 1913-04-01 3.70 1913-05-01 3.75 1913-06-01 3.95 1913-07-01 3.85 1913-08-01 3.70 1913-09-01 3.75 1913-10-01 3.85 1913-11-01 3.85 1913-12-01 3.97 1914-01-01 3.94 1914-02-01 3.97 1914-03-01 4.06 1914-04-01 4.06 1914-05-01 4.20 1914-06-01 4.15 1914-07-01 4.60 1914-08-01 . 1914-09-01 . 1914-10-01 . 1914-11-01 . 1914-12-01 . 1915-01-01 . 1915-02-01 . 1915-03-01 . 1915-04-01 . 1915-05-01 . 1915-06-01 . 1915-07-01 . 1915-08-01 . 1915-09-01 . 1915-10-01 . 1915-11-01 . 1915-12-01 . 1916-01-01 . 1916-02-01 . 1916-03-01 . 1916-04-01 . 1916-05-01 . 1916-06-01 . 1916-07-01 . 1916-08-01 . 1916-09-01 . 1916-10-01 . 1916-11-01 . 1916-12-01 . 1917-01-01 . 1917-02-01 . 1917-03-01 . 1917-04-01 . 1917-05-01 . 1917-06-01 . 1917-07-01 . 1917-08-01 . 1917-09-01 . 1917-10-01 . 1917-11-01 . 1917-12-01 . 1918-01-01 . 1918-02-01 . 1918-03-01 . 1918-04-01 . 1918-05-01 . 1918-06-01 . 1918-07-01 . 1918-08-01 . 1918-09-01 . 1918-10-01 . 1918-11-01 . 1918-12-01 . 1919-01-01 3.36 1919-02-01 3.45 1919-03-01 3.54 1919-04-01 3.45 1919-05-01 3.33 1919-06-01 3.26 1919-07-01 3.40 1919-08-01 3.32 1919-09-01 3.14 1919-10-01 3.06 1919-11-01 3.04 1919-12-01 3.09 1920-01-01 3.03 1920-02-01 2.82 1920-03-01 2.56 1920-04-01 2.42 1920-05-01 2.62 1920-06-01 2.95 1920-07-01 2.93 1920-08-01 3.24 1920-09-01 3.21 1920-10-01 3.44 1920-11-01 3.84 1920-12-01 3.75 1921-01-01 3.81 1921-02-01 4.15 1921-03-01 3.94 1921-04-01 3.94 1921-05-01 4.15 1921-06-01 4.39 1921-07-01 4.50 1921-08-01 4.15 1921-09-01 4.18 1921-10-01 4.33 1921-11-01 4.40 1921-12-01 4.35 1922-01-01 4.39 1922-02-01 4.59 1922-03-01 4.61 1922-04-01 4.75 1922-05-01 4.55 1922-06-01 4.53 1922-07-01 4.37 1922-08-01 3.99 1922-09-01 4.03 1922-10-01 3.81 1922-11-01 3.64 1922-12-01 3.59 1923-01-01 3.36 1923-02-01 3.30 1923-03-01 3.46 1923-04-01 3.44 1923-05-01 3.47 1923-06-01 3.34 1923-07-01 3.18 1923-08-01 3.17 1923-09-01 3.42 1923-10-01 3.34 1923-11-01 3.19 1923-12-01 3.11 1924-01-01 2.98 1924-02-01 2.79 1924-03-01 3.21 1924-04-01 3.26 1924-05-01 3.32 1924-06-01 3.41 1924-07-01 3.39 1924-08-01 3.54 1924-09-01 3.53 1924-10-01 3.46 1924-11-01 3.62 1924-12-01 3.74 1925-01-01 3.78 1925-02-01 3.86 1925-03-01 3.86 1925-04-01 3.87 1925-05-01 4.11 1925-06-01 4.08 1925-07-01 3.84 1925-08-01 3.87 1925-09-01 4.00 1925-10-01 4.15 1925-11-01 4.10 1925-12-01 4.05 1926-01-01 4.00 1926-02-01 3.94 1926-03-01 4.18 1926-04-01 4.13 1926-05-01 4.06 1926-06-01 3.75 1926-07-01 3.31 1926-08-01 3.40 1926-09-01 3.20 1926-10-01 3.34 1926-11-01 3.60 1926-12-01 3.70 1927-01-01 3.52 1927-02-01 3.58 1927-03-01 3.49 1927-04-01 3.38 1927-05-01 3.47 1927-06-01 3.62 1927-07-01 3.49 1927-08-01 3.52 1927-09-01 3.47 1927-10-01 3.47 1927-11-01 3.52 1927-12-01 3.26 1928-01-01 2.98 1928-02-01 3.09 1928-03-01 2.80 1928-04-01 2.54 1928-05-01 2.59 1928-06-01 2.62 1928-07-01 2.97 1928-08-01 2.69 1928-09-01 2.64 1928-10-01 2.66 1928-11-01 2.59 1928-12-01 2.52 1929-01-01 2.24 1929-02-01 2.28 1929-03-01 2.38 1929-04-01 2.47 1929-05-01 2.55 1929-06-01 2.91 1929-07-01 2.88 1929-08-01 2.85 1929-09-01 2.76 1929-10-01 2.92 1929-11-01 3.07 1929-12-01 3.05 1930-01-01 2.89 1930-02-01 2.98 1930-03-01 3.00 1930-04-01 2.96 1930-05-01 3.11 1930-06-01 3.31 1930-07-01 3.33 1930-08-01 3.46 1930-09-01 3.54 1930-10-01 3.63 1930-11-01 3.95 1930-12-01 4.26 1931-01-01 4.08 1931-02-01 3.90 1931-03-01 4.12 1931-04-01 4.21 1931-05-01 4.27 1931-06-01 3.86 1931-07-01 4.01 1931-08-01 4.15 1931-09-01 4.78 1931-10-01 4.98 1931-11-01 5.03 1931-12-01 5.31 1932-01-01 4.93 1932-02-01 4.27 1932-03-01 4.41 1932-04-01 4.84 1932-05-01 5.47 1932-06-01 4.94 1932-07-01 4.64 1932-08-01 4.51 1932-09-01 4.25 1932-10-01 4.47 1932-11-01 4.31 1932-12-01 4.17 1933-01-01 4.09 1933-02-01 4.09 1933-03-01 4.20 1933-04-01 4.06 1933-05-01 3.75 1933-06-01 3.60 1933-07-01 3.45 1933-08-01 3.48 1933-09-01 3.60 1933-10-01 3.65 1933-11-01 3.70 1933-12-01 3.70 1934-01-01 3.81 1934-02-01 3.83 1934-03-01 4.09 1934-04-01 3.94 1934-05-01 3.94 1934-06-01 3.91 1934-07-01 3.99 1934-08-01 4.11 1934-09-01 4.33 1934-10-01 4.23 1934-11-01 4.17 1934-12-01 4.20 1935-01-01 3.74 1935-02-01 3.84 1935-03-01 3.92 1935-04-01 3.79 1935-05-01 3.53 1935-06-01 3.74 1935-07-01 3.91 1935-08-01 3.63 1935-09-01 3.74 1935-10-01 3.71 1935-11-01 3.78 1935-12-01 3.67 1936-01-01 3.54 1936-02-01 3.46 1936-03-01 3.56 1936-04-01 3.58 1936-05-01 4.25 1936-06-01 4.35 1936-07-01 4.80 1936-08-01 4.83 1936-09-01 4.41 1936-10-01 3.66 1936-11-01 3.53 1936-12-01 3.58 1937-01-01 3.11 1937-02-01 3.23 1937-03-01 3.27 1937-04-01 3.70 1937-05-01 3.84 1937-06-01 3.91 1937-07-01 4.22 1937-08-01 4.10 1937-09-01 4.27 1937-10-01 4.18 1937-11-01 4.19 1937-12-01 4.34 1938-01-01 4.51 1938-02-01 4.53 1938-03-01 4.66 1938-04-01 4.08 1938-05-01 4.15 1938-06-01 4.27 1938-07-01 4.39 1938-08-01 4.34 1938-09-01 4.47 1938-10-01 4.28 1938-11-01 4.12 1938-12-01 3.63 1939-01-01 4.09 1939-02-01 3.89 1939-03-01 3.99 1939-04-01 4.04 1939-05-01 3.89 1939-06-01 4.20 1939-07-01 4.24