NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Existing Estimates, New Estimates, and New Interpretations of World War I and its Aftermath

Christina D. Romer

NBER Working Paper No. 2187
Issued in March 1987
NBER Program(s):   EFG

The paper examines the official Commerce Department estimates of gross national product for 1909-1928 and finds that they are far inferior to the less commonly used Kendrick GNP estimates. The paper then derives a revised version of the Kendrick series that alters significantly the representation of annual movements in the Kendrick series before 1919. This endorsement of a revised Kendrick GNP series in place of the official Commerce Department estimates before 1929 suggests new interpretations of the effect of World War I on the American economy and the nature and cause of the depression of 1921.

download in pdf format
   (445 K)

download in djvu format
   (328 K)

email paper

This paper is available as PDF (445 K) or DjVu (328 K) (Download viewer) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w2187

Published: Romer, C. "World War I and the Postwar Depression: A Reinterpretation Based on Alternative Estimates of GNP," Journal of Monetary Economics, Vol. 22 , No. 1, July 1988, pp. 91-115.

 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us