Real Output in Switzerland: New Estimates for 1914-47

For the first time, an estimate is provided of the real gross domestic product of Switzerland between 1914 and 1947. The estimate is obtained from published data on three other measures of Swiss economic activity during this period: 1. net national product, 2. industrial production, and 3. the trans...

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Bibliographic Details
Published in:Review - Federal Reserve Bank of St. Louis 2000-05, Vol.82 (3), p.43-69
Main Authors: Anderson, Richard G, Williams, Marcela M, Andrist, Felix
Format: Article
Language:English
Subjects:
Economic activity
Economic aspects
Economic growth
Economic history
Economics
Estimating techniques
GDP
Gross Domestic Product
Industrial production
Interwar years
Statistical analysis
Studies
Switzerland
World War One
World War Two
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Summary:For the first time, an estimate is provided of the real gross domestic product of Switzerland between 1914 and 1947. The estimate is obtained from published data on three other measures of Swiss economic activity during this period: 1. net national product, 2. industrial production, and 3. the transport volume of Swiss railroads. These underlying series closely represent the economic growth of Switzerland; but they also seem unreasonably volatile as proxy measures of total production, and hence, are filtered by moving averages. Although such smoothing might reduce the accuracy of the estimates, comparisons to US data suggest any such loss is small.
ISSN:0014-9187
2163-4505