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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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Gallman’s Annual Product Series, 1834–1909

Gallman’s Annual Product Series, 1834–1909

(p.102) Chapter Five Gallman’s Annual Product Series, 1834–1909
Capital in the Nineteenth Century

Robert E. Gallman

Paul W. Rhode

University of Chicago Press

The chapter describes and analyses the underlying data in Gallman’s Volume 30 annual national product series. These are our best estimates of nineteenth-century US GNP, NNP, and capital formation and underlie much of what we know about America’s economic growth. The series break down national product, measures in current and constant prices, in consumptions and investment components. The chapter discusses the limitations of the Volume 30 series and why Gallman considered his estimates suitable for long-run investigations but not for time-series analysis as annual series.

Keywords:   National Product, Consumption, Investment, Construction, Price Deflators, Time-Series Analysis

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