Source: National Bureau of Economic Research  

Release: NBER Macrohistory Database  

Units:  Millions of 1913 Dollars, Not Seasonally Adjusted

Frequency:  Annual

Notes:

Series Is Presented Here As 2 Variables: (1) Annual Data, 1889-1919; (2) Annual Data, 1919-37. The Data Represent Value Of Work On Vessels Of Five Gross Tons And Over. For The Period 1889-1919, Estimates Of Value Of Output Were Used As Estimates Of Value Destined For Domestic Consumption. (No Adjustment Was Made For Exports And Imports.) The Primary Source For The 1889-1919 Estimates Was The "Census Of Statistical Reports From Pennsylvania, Massachusetts, And New Jersey Were Used To Estimate The Intercensal Years From 1889 To 1919. For The Period 1919-33 The Data Are Based On Kuznets' Estimates. ("Commodity Flow And Capital Formation", I, New York, NBER, 1938) Adjusted To Improve Comparability With Earlier Years. (Shaw'S Figures Include All Work Done; Kuznets' Total Included Work Done On Completed Vessels Only.) After 1933 The Estimates Are Rough Extrapolations. Values In 1913 Prices Were Derived By Applying Price Indexes To The Current Price Series. For 1915-1937 The Deflator Was An Interstate Commerce Commission Index For Floating Equipment, Published In A Mimeographed Release By The Icc, Engineering Section, Bureau Of Valuation, July 1, 1940. For 1889-1914 Two Indexes Of Cost To Railroads Of Floating Equipment Were Averaged. These Indexes Were Reported In "Cost Of Floating Equipment" (President'S Conference Committee, Eastern Group Pamphlet 290). The Average Was Linked To The Index For Later Years. For A Detailed Description, See Source. Source: William Howard Shaw, "Value Of Commodity Output Since 1869" (National Bureau Of Economic Research), Pp.57, 69, 75-76

This NBER data series a02235a appears on the NBER website in Chapter 2 at http://www.nber.org/databases/macrohistory/contents/chapter02.html.

NBER Indicator: a02235a