Advanced Search
MyIDEAS: Login

Monthly GDP estimates for inter-war Britain

Contents:

Author Info

  • Mitchell, James
  • Solomou, Solomos
  • Weale, Martin

Abstract

We derive monthly and quarterly series of UK GDP for the inter-war period from a set of monthly indicators that were constructed by The Economist at the time. The monthly information is complemented with data for quarterly industrial production, allowing us to employ mixed-frequency methods to produce monthly estimates of GDP and of industrial production. We proceed to illustrate how the new data compare with existing high frequency data and how they can be used to contribute to our understanding of the economic history of the UK in the inter-war period and to draw comparisons between recession profiles in the inter-war and the post-war period.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/pii/S0014498312000290
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Explorations in Economic History.

Volume (Year): 49 (2012)
Issue (Month): 4 ()
Pages: 543-556

as in new window
Handle: RePEc:eee:exehis:v:49:y:2012:i:4:p:543-556

Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622830

Related research

Keywords: Economic history; UK national accounts; Monthly GDP data 1920–1938; Great Depression;

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Harding, Don & Pagan, Adrian, 2002. "Dissecting the cycle: a methodological investigation," Journal of Monetary Economics, Elsevier, vol. 49(2), pages 365-381, March.
  2. Stock, James H & Watson, Mark W, 2002. "Macroeconomic Forecasting Using Diffusion Indexes," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(2), pages 147-62, April.
  3. Foreman-Peck, James & Hughes Hallett, Andrew & Ma, Yue, 2000. "A monthly econometric model of the transmission of the Great Depression between the principal industrial economies," Economic Modelling, Elsevier, vol. 17(4), pages 515-544, December.
  4. Peter Temin, 1991. "Lessons from the Great Depression," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262700441, December.
  5. James Mitchell & Richard J. Smith & Martin R. Weale & Stephen Wright & Eduardo L. Salazar, 2005. "An Indicator of Monthly GDP and an Early Estimate of Quarterly GDP Growth," Economic Journal, Royal Economic Society, vol. 115(501), pages F108-F129, 02.
  6. Tommaso Proietti & Filippo Moauro, 2004. "Dynamic Factor Analysis with Nonlinear Temporal Aggregation Constraints," Econometrics 0401003, EconWPA.
  7. Barry J. Eichengreen & Jeffrey Sachs, 1984. "Exchange Rates and Economic Recovery in the 1930s," NBER Working Papers 1498, National Bureau of Economic Research, Inc.
  8. Solomou, Solomos & Vartis, Dimitris, 2005. "Effective Exchange Rates in Britain, 1920 1930," The Journal of Economic History, Cambridge University Press, vol. 65(03), pages 850-859, September.
  9. Bray, Margaret M & Savin, Nathan E, 1986. "Rational Expectations Equilibria, Learning, and Model Specification," Econometrica, Econometric Society, vol. 54(5), pages 1129-60, September.
  10. Solomos Solomou & Martin Weale, 1996. "UK national income, 1920-1938: the implications of balanced estimates," Economic History Review, Economic History Society, vol. 49(1), pages 101-115, 02.
  11. Chow, Gregory C & Lin, An-loh, 1971. "Best Linear Unbiased Interpolation, Distribution, and Extrapolation of Time Series by Related Series," The Review of Economics and Statistics, MIT Press, vol. 53(4), pages 372-75, November.
  12. Hendry, David F & Mizon, Grayham E, 1978. "Serial Correlation as a Convenient Simplification, not a Nuisance: A Comment on a Study of the Demand for Money by the Bank of England," Economic Journal, Royal Economic Society, vol. 88(351), pages 549-63, September.
  13. Arthur F. Burns & Wesley C. Mitchell, 1946. "Measuring Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number burn46-1, May.
  14. Broadberry, S N, 1986. "Aggregate Supply in Interwar Britain," Economic Journal, Royal Economic Society, vol. 96(382), pages 467-81, June.
  15. Peter Hayes & Paul Turner, 2007. "Estimates of quarterly GDP for the interwar UK economy," Applied Economics Letters, Taylor & Francis Journals, vol. 14(8), pages 569-572.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Crafts, Nicholas & Mills, Terence, 2013. "Rearmament to the Rescue? New Estimates of the Impact of ‘Keynesian’ Policies in 1930s’ Britain," The Warwick Economics Research Paper Series (TWERPS) 1018, University of Warwick, Department of Economics.
  2. Crafts, Nicholas, 2013. "What Does the 1930s’ Experience Tell Us about the Future of the Eurozone?," CAGE Online Working Paper Series 142, Competitive Advantage in the Global Economy (CAGE).
  3. repec:cge:warwcg:141 is not listed on IDEAS
  4. repec:cge:warwcg:102 is not listed on IDEAS

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:exehis:v:49:y:2012:i:4:p:543-556. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.