UK World War I and interwar data for business cycle and growth analysis

This article contributes new time series for studying the UK economy during World War I and the interwar period. The time series are per capita hours worked and average capital income, labor income, and consumption tax rates. Uninterrupted time series of these variables are provided for an annual sa...

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Bibliographic Details
Published in:Cliometrica 2012-05, Vol.6 (2), p.115-142
Main Authors: Nason, James M., Vahey, Shaun P.
Format: Article
Language:English
Subjects:
Academic libraries
Business cycles
Central banks
Consumption
Econometrics
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Finance
History
History of Economic Thought/Methodology
Income taxes
Insurance
Interwar period
Labor market
Management
Original Paper
Per capita
Statistics for Business
Tax rates
Time series
Use taxes
World War I
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Summary:This article contributes new time series for studying the UK economy during World War I and the interwar period. The time series are per capita hours worked and average capital income, labor income, and consumption tax rates. Uninterrupted time series of these variables are provided for an annual sample that runs from 1913 to 1938. We highlight the usefulness of these time series with several empirical applications. The per capita hours worked data are used in a growth accounting exercise to measure the contributions of capital, labor, and productivity to output growth. The average tax rates are employed in a Bayesian model averaging experiment to reevaluate the Benjamin and Kochin (J Political Econ 87:441–478, 1979 ) regression.
ISSN:1863-2505
1863-2513
DOI:10.1007/s11698-011-0064-5