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

37 Pages Posted: 28 Mar 2002 Last revised: 27 Oct 2010

See all articles by Paul W. Rhode

Paul W. Rhode

University of Michigan at Ann Arbor; National Bureau of Economic Research (NBER)

Date Written: March 2002

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This paper presents Robert Gallman's classic, but heretofore unpublished annual series for US national product over the 1834-59 and 1869-1909 periods.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

Suggested Citation

Rhode, Paul W., Gallman's Annual Output Series for the United States, 1834-1909 (March 2002). NBER Working Paper No. w8860, Available at SSRN: https://ssrn.com/abstract=305604

Paul W. Rhode (Contact Author)

University of Michigan at Ann Arbor ( email )

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