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Irish GDP between the Famine and the First World War: Estimates Based on a Dynamic Factor Model

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  • Andersson, Fredrik N. G.

    () (Department of Economics, Lund University)

  • Lennard, Jason

    () (Department of Economic History, Lund University)

Abstract

A major issue in Irish economic history is the lack of national accounts before the interwar period. This paper constructs new annual estimates of real GDP between 1842 and 1913 based on a novel two-stage econometric approach. Our results show that while living standards approximately tripled in this period, development was uneven with contractions in economic activity not only during the Great Famine but also between the late 1890s and the First World War. As a proof of concept, we also apply our methodology to Swedish data. The resulting estimates closely match existing historical national accounts.

Suggested Citation

  • Andersson, Fredrik N. G. & Lennard, Jason, 2016. "Irish GDP between the Famine and the First World War: Estimates Based on a Dynamic Factor Model," Working Papers 2016:13, Lund University, Department of Economics, revised 16 Jan 2018.
  • Handle: RePEc:hhs:lunewp:2016_013
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    File URL: http://project.nek.lu.se/publications/workpap/papers/wp16_13.pdf
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    References listed on IDEAS

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    Cited by:

    1. Blum, Matthias & Colvin, Christopher L. & McLaughlin, Eoin, 2017. "Scarring and selection in the Great Irish Famine," QUCEH Working Paper Series 2017-08, Queen's University Belfast, Queen's University Centre for Economic History.

    More about this item

    Keywords

    Ireland; GDP; Famine; Historical national accounts;

    JEL classification:

    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913

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