TY  - JOUR
AU  - Romer,Christina D.
TI  - Existing Estimates, New Estimates, and New Interpretations of World War I and its Aftermath
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2187
PY  - 1987
Y2  - March 1987
UR  - http://www.nber.org/papers/w2187
L1  - http://www.nber.org/papers/w2187.pdf
N1  - Author contact info:
Christina D. Romer
Department of Economics
University of California, Berkeley
549 Evans Hall, #3880
Berkeley, CA 94720
Tel: 510/642-4317
Fax: 510/642-6615
E-Mail: cromer@econ.berkeley.edu
AB  - 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.
ER  -