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Capital in the Nineteenth Century$
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Robert E. Gallman and Paul W. Rhode

Print publication date: 2020

Print ISBN-13: 9780226633114

Published to Chicago Scholarship Online: September 2020

DOI: 10.7208/chicago/9780226633251.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 25 October 2020

The United States Capital Stock, 1840–1900

The United States Capital Stock, 1840–1900

Chapter:
(p.33) Chapter Three The United States Capital Stock, 1840–1900
Source:
Capital in the Nineteenth Century
Author(s):

Robert E. Gallman

Paul W. Rhode

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226633251.003.0003

This chapter describes and analyzes Gallman’s estimates of the value of the United States fixed capital stock (in current prices and in 1860 prices) at decade intervals, from 1840 to 1900. It compares the Gallman’s estimates with other previous series. The chapter documents changes in the aggregate capital output ratio and investigates the roles of structural changes (sectoral shifts) and changes in capital-output ratio at the sectorial level. It also performs a growth accounting exercise.

Keywords:   Capital Stock, Wealth, Capital Formation, Capital Output Ratio, Structural Change, Growth Accounting

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