Hostname: page-component-78c5997874-ndw9j Total loading time: 0 Render date: 2024-11-16T19:50:35.671Z Has data issue: false hasContentIssue false
  • English
  • Français

Consistent Output Series for the Antebellum and Postbellum Periods: Issues and Preliminary Results

Published online by Cambridge University Press:  03 March 2009

Charles W. Calomiris  and
Christopher Hanes
Charles W. Calomiris
Affiliation:
Associate Professor, Department of Finance, University of Illinois, 1206 S. 6th St., Champaign, Illinois 61820, and Faculty Research Fellow, National Bureau of Economic Research. Christopher Hanes is Assistant Professor, Department of Economics, University of Pennsylvania, 3718 Locust Walk, Philadelphia, Pennsylvania 19104.
Christopher Hanes
Affiliation:
Associate Professor, Department of Finance, University of Illinois, 1206 S. 6th St., Champaign, Illinois 61820, and Faculty Research Fellow, National Bureau of Economic Research. Christopher Hanes is Assistant Professor, Department of Economics, University of Pennsylvania, 3718 Locust Walk, Philadelphia, Pennsylvania 19104.
Get access Rights & Permissions [Opens in a new window]

Abstract

Existing output series that cover both the antebellum and postbellum periods are inconsistent and unsuitable for comparing cyclical patterns across the nineteenth century. More consistent data show that output in cyclically sensitive sectors was no less, and probably more, volatile before the War Between the States than after it.

Type
Articles
Information
The Journal of Economic History , Volume 54 , Issue 2 , June 1994 , pp. 409 - 422
Copyright
Copyright © The Economic History Association 1994

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

REFERENCES

American Iron and Steel Association, Annual Statistical Report for 1895, 1896 (Philadelphia, 1896, 1897); 1917 (New York, 1917).Google Scholar
Balke, Nathan S., and Gordon, Robert J., “The Estimation of Prewar Gross National Product: Methodology and New Evidence,” Journal of Political Economy, 97 (02 1989), pp. 38–92.CrossRefGoogle Scholar
Berry, Thomas Senior, “Estimated Annual Variations in Gross National Product, 1789 to 1909,” Bostwick Paper No. 1 (Richmond, VA, 1968).Google Scholar
Berry, Thomas Senior, “Production and Population Since 1789, Revised GNP Series in Constant Dollars,” Bostwick Paper No. 6 (Richmond, VA, 1988).Google Scholar
Burns, Arthur F., “Mitchell on What Happens During Business Cycles,” in Conference on Business Cycles (New York, 1951), pp. 3–33.Google Scholar
Chandler, Alfred D., The Visible Hand: The Managerial Revolution in American Business (Cambridge, MA, 1977).Google Scholar
DeLong, J. Bradford, and Summers, Lawrence H., “The Changing Cyclical Variability of Economic Activity in the United States,” in Gordon, Robert J., ed., The American Business Cycle: Continuity and Change (Chicago, 1987).Google Scholar
Eavenson, Howard N., The First Century and a Quarter of American Coal Industry (Pittsburgh, 1942).Google Scholar
Fogel, Robert William, Railroads and American Economic Growth: Essays in Econometric History (Baltimore, 1964).Google Scholar
Frickey, Edwin, Economic Fluctuations in the United States (Cambridge, MA, 1942).Google Scholar
Frickey, Edwin, Production in the United States 1860–1914 (Cambridge, MA, 1947).Google Scholar
Gallman, Robert, “Commodity Output, 1839–1899,” in Trends in the American Economy in the Nineteenth Century, Studies in Income and Wealth (New York, 1960), vol. 24, pp. 13–71.Google Scholar
Gallman, Robert, “Gross National Product in the United States, 1834–1909,” in Output, Employment and Productivity in the United States after 1800, Studies in Income and Wealth (New York, 1966), vol. 30, pp. 3–90.Google Scholar
James, John, “Changes in Economic Instability in 19th-century America,” American Economic Review, 83 (09 1993), pp. 710–731.Google Scholar
James, John, “The Stability of the 19th-century Phillips Curve Relationship,” Explorations in Economic History, 26 (04 1989), pp. 117–134.CrossRefGoogle Scholar
Kuznets, Simon, “Comment” on Joseph, Schumpeter in Conference on Business Cycles (New York, 1951), pp. 155–162.Google Scholar
Kydland, Finn, and Prescott, Edward, “Business Cycles: Real Facts and a Monetary Myth,” Federal Reserve Bank of Minneapolis Quarterly Review, 14 (Spring 1990), pp. 3–18.Google Scholar
Lebergott, Stanley, “Labor Force and Employment, 1800–1960,” in Output, Employment and Productivity in the United States after 1800, Studies in Income and Wealth (New York, 1966), vol. 30, pp. 116–210.Google Scholar
Miron, Jeffrey A., and Romer, Christina D., “A New Monthly Index of Industrial Production, 1884–1940,” Journal of Economic History, 50 (04 1990), pp. 321–332.CrossRefGoogle Scholar
Mitchell, Wesley C, What Happens During Business Cycles: A Progress Report (New York, 1951).Google Scholar
Moore, Geoffrey H., and Zarnowitz, Victor, “The Development and Role of the National Bureau of Economic Research's Business Cycle Chronologies,” in Gordon, Robert J., ed., The American Business Cycle (Chicago, 1986), pp. 735–779.Google Scholar
O'Brien, Anthony Patrick, “Factory Size, Economies of Scale, and the Great Merger Wave of 1898–1902,” Journal of Economic History, 48 (09 1988), pp. 639–649.CrossRefGoogle Scholar
Romer, Christina, “Is the Stabilization of the Postwar Economy a Figment of the Data?” American Economic Review, 76 (06 1986), pp. 314–334.Google Scholar
Romer, Christina, “The Prewar Business Cycle Reconsidered: New Estimates of Gross National Product 1869–1908,” Journal of Political Economy, 97 (02 1989), pp. 1–37.CrossRefGoogle Scholar
Taussig, Frank William, A Tariff History of the United States (New York, 1931).Google Scholar
Taussig, Frank William, Some Aspects of the Tariff Question (Cambridge, 1931).Google Scholar
Temin, Peter, The Jacksonian Economy (New York, 1969).Google Scholar
Towne, Marvin W., and Rasmussen, Wayne D., “Farm Gross Product and Gross Investment in the Nineteenth Century,” in Trends in the American Economy in the Nineteenth Century, Studies in Income and Wealth (New York, 1960), vol. 24, pp. 255–315.Google Scholar
U.S. Bureau of Mines, Economic Paper Number 5, “Summarized Data of Lead Production,” by Smith, L. A., 1929.Google Scholar
U.S. Council of Economic Advisers, Economic Report of the President (Washington, DC, various years).Google Scholar
U.S. Department of Agriculture, Bureau of Agricultural Economics, “The Agricultural Situation,” 19 (01 1935).Google Scholar
U.S. Department of Commerce, Statistical Abstract of the United States, 1907, 1915, 1917 (Washington, DC, 1908, 1916, 1918).Google Scholar
U.S. Department of Commerce, Bureau of the Census, Bulletin 166, Cotton Production and Distribution, Season of 1928–1929 (Washington, DC, 1929).Google Scholar
U.S. Department of Commerce, Bureau of the Census, Historical Statistics of the United States (Washington, DC, 1975).Google Scholar
U.S. Department of Labor, Bureau of Labor Statistics, Employment, Hours and Earnings, United States, 1909–90 (Washington, DC, 1991).Google Scholar
U.S. Department of the Treasury, Bureau of Statistics, Monthly Summary of Finance and Commerce of the United States (10 1896).Google Scholar