Gallman's Annual Output Series for the United States, 1834-1909

Paul Rhode

No 8860, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper presents Robert Gallman's classic, but heretofore unpublished annual series for US national product over the 1834-59 and 1869-1909 periods.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.

JEL-codes: N11 O47 (search for similar items in EconPapers)
Date: 2002-03
New Economics Papers: this item is included in nep-dev
Note: DAE
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Citations: View citations in EconPapers (15)

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