کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
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5068694 | 1476970 | 2015 | 12 صفحه PDF | دانلود رایگان |
This study uses state space time series analysis to estimate output growth in German manufacturing between 1907 and 1936. In the absence of net-output data, previous research has estimated output change using proxy variables. Various proxy-based output series are available that imply either a 25% German labor-productivity lead over Britain or a parity of performance in 1907. The conventional strategy to deal with this conundrum involves a choice between the series. With the correlation between the different proxies and output unknown, such a choice is inappropriate because it results in the loss of information provided by the rejected proxies. Instead, this study makes full and efficient use of all information by estimating a common component in the various output series. The new estimate of output change implies a German lead over Britain in manufacturing labor productivity of 4.4% in 1907.
Journal: Explorations in Economic History - Volume 57, July 2015, Pages 38-49