Gallman's Annual Output Series for the United States, 1834-1909 / Paul W. Rhode.

Format:

Book

Author/Creator:

Rhode, Paul W.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w8860.

NBER working paper series no. w8860

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2002.

Summary:

This paper presents Robert Gallman's classic, but heretofore unpublished annual series for US national product over the 1834-59 and 1869-1909 periods. The 'Volume 30' series, reported as decadal averages, underlie much of what we know about American income growth and capital formation before 1909. This paper briefly documents Gallman's construction and use of the annual series, offers corrections for minor errors found in the previously circulated versions, compares the series with alternative national product estimates, and explores promising avenues for further research. Most importantly, this paper lays out why Gallman considered his annual 'Volume 30' series unsuitable for business-cycle analysis.

Notes:

Print version record

March 2002.