Estimates of Real Economic Activity in Switzerland, 1885-1930
23 Pages Posted: 13 Aug 2002
Date Written: June 2002
Abstract
This Paper uses annual data spanning 1870 to 1930 on a set of variables correlated with business conditions to construct an index of real economic activity in Switzerland. We extract an estimate of the common component of the data series using principal components analysis and the unobservable variables approach proposed by Stock and Watson (1989, 1991). The resulting index is similar to, but displays more variation over time than, that constructed by Andrist, Anderson and Williams (2000).
Keywords: Swiss economic history, principal components, coincident indicator
JEL Classification: E32, N13, N14
Suggested Citation: Suggested Citation
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