TY  - JOUR
AU  - Rhode,Paul W.
TI  - Gallman's Annual Output Series for the United States, 1834-1909
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 8860
PY  - 2002
Y2  - March 2002
UR  - http://www.nber.org/papers/w8860
L1  - http://www.nber.org/papers/w8860.pdf
N1  - Author contact info:
Paul Rhode
Economics Department
University of Michigan
205 Lorch Hall
611 Tappan St.
Ann Arbor, MI 48109-1220
Tel: 734/647-5603
Fax: 734/764-2769
E-Mail: pwrhode@umich.edu
AB  - This paper presents Robert Gallman's classic, but heretofore unpublished annual series for US national product over the 1834-59 and 1869-1909 periods.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.
ER  -