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Spurious growth in German output data, 1913—1938

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  • RITSCHL, ALBRECHT

Abstract

Stagnant levels of output and incomplete recoveries in the interwar business cycle have received fresh attention in recent work. Building on the work of Borchardt (1991 [1979]), Fisher and Hornstein (2001) calibrate an augmented RBC model of Germany's interwar economy. They find that sluggish productivity combined with high wage costs explain the depth of Germany's interwar depression. In the very different context of a dynamic Phillips curve, Dimsdale, et al. (2004) arrive at the same conclusion. Cole and Ohanian (1999, 2002) find that output in Great Britain and the United States failed to recover to historical trends after the Great Depression. Beaudry and Portier (2002) find that the labour policies of the Popular Front government contributed to stagnant output levels in France during the 1930s. A common perspective shared by these papers is that productivity growth was already low during the 1920s and failed to recover to trend before World War II.

Suggested Citation

  • Ritschl, Albrecht, 2004. "Spurious growth in German output data, 1913—1938," European Review of Economic History, Cambridge University Press, vol. 8(2), pages 201-223, August.
    • Handle: RePEc:cup:ereveh:v:8:y:2004:i:02:p:201-223_00
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    Cited by:

    1. Stephen Broadberry & Carsten Burhop, 2008. "Resolving the Anglo-German Industrial Productivity Puzzle, 1895-1935: A Response to Professor Ritschl," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2008_27, Max Planck Institute for Research on Collective Goods.
    2. Fremdling, Rainer & Jong, Herman de & Timmer, Marcel P., 2007. "Censuses compared. A New Benchmark for British and German Manufacturing 1935/1936," GGDC Research Memorandum GD-90, Groningen Growth and Development Centre, University of Groningen.
    3. Veenstra, Joost, 2015. "Output growth in German manufacturing, 1907–1936. A reinterpretation of time-series evidence," Explorations in Economic History, Elsevier, vol. 57(C), pages 38-49.
    4. Rainer Fremdling & Reiner Staeglin, 2014. "Editor's choice Output, national income, and expenditure: an input–output table of Germany in 1936," European Review of Economic History, European Historical Economics Society, vol. 18(4), pages 371-397.
    5. Ritschl, Albrecht, 2008. "The Anglo-German productivity puzzle, 1895-1935: a restatement and a possible resolution," Economic History Working Papers 22309, London School of Economics and Political Science, Department of Economic History.
    6. Felice, Emanuele & Carreras, Albert, 2012. "When did modernization begin? Italy's industrial growth reconsidered in light of new value-added series, 1911–1951," Explorations in Economic History, Elsevier, vol. 49(4), pages 443-460.
    7. repec:dgr:rugggd:gd-90 is not listed on IDEAS
    8. Emanuele Felice & Albert Carreras, 2012. "The roots of success: industrial growth in Italy reconsidered, 1911-1951," UHE Working papers 2012_04, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.

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