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Measuring trends and cycles in industrial production in Norway 1896-1948

Author

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  • Jan Tore Klovland

    (Norwegian School of Economics and Norges Bank)

Abstract

This paper presents new indices for industrial production in Norway covering the years 1896-1948. Separate annual and monthly indices of gross output and labour productivity are computed for 45 manufacturing and mining industries, using annually updated weights based on value added at factor cost. The new industrial production index shows somewhat stronger growth of output in the years before WWI and, in particular, in the 1930s, than the existing index published by Statistics Norway. The new monthly data set also provides a basis for identifying a business cycle chronology for Norway in the first half of the twentieth century.

Suggested Citation

  • Jan Tore Klovland, 2015. "Measuring trends and cycles in industrial production in Norway 1896-1948," Working Paper 2015/18, Norges Bank.
    • Handle: RePEc:bno:worpap:2015_18
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    File URL: http://www.norges-bank.no/en/Published/Papers/Working-Papers/2015/201518/
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    Cited by:

    1. Grytten, Ola Honningdal, 2020. "The Wealth of a Nation: Norways Road to Prosperity," Discussion Paper Series in Economics 17/2020, Norwegian School of Economics, Department of Economics.
    2. Grytten, Ola Honningdal, 2020. "Two centuries of economic growth: Norwegian GDP 1816-2020," Discussion Paper Series in Economics 10/2020, Norwegian School of Economics, Department of Economics.

    More about this item

    Keywords

    Industrial production; business cycles; labour productivity;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • N64 - Economic History - - Manufacturing and Construction - - - Europe: 1913-
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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