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Irish GDP between the Famine and the First World War : estimates based on a dynamic factor model

Andersson, Fredrik N G LU and Lennard, Jason LU (2018) In European Review of Economic History
Abstract (Swedish)
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.
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.

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author
organization
publishing date
type
Contribution to journal
publication status
epub
subject
keywords
Ireland, GDP, Historical national accounts, Famine, First world war, 1842 - 1913
in
European Review of Economic History
pages
22 pages
publisher
Cambridge University Press
ISSN
1474-0044
DOI
10.1093/ereh/hey003
language
English
LU publication?
yes
id
5669c4ae-b8a6-4fe7-b66f-3baf6b3bee78
date added to LUP
2018-02-22 07:45:05
date last changed
2018-05-29 10:34:13
@article{5669c4ae-b8a6-4fe7-b66f-3baf6b3bee78,
  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.<br/><br/>},
  author       = {Andersson, Fredrik N G and Lennard, Jason},
  issn         = {1474-0044},
  keyword      = {Ireland,GDP,Historical national accounts,Famine,First world war,1842 - 1913},
  language     = {eng},
  pages        = {22},
  publisher    = {Cambridge University Press},
  series       = {European Review of Economic History},
  title        = {Irish GDP between the Famine and the First World War : estimates based on a dynamic factor model},
  url          = {http://dx.doi.org/10.1093/ereh/hey003},
  year         = {2018},
}