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Of economics and statistics: the Gerschenkron effect

Author

Listed:
  • Stefano Fenoaltea

    (Fondazione Luigi Einaudi, Turin)

Abstract

The 'Gerschenkron effect' refers to the purported biases of early-weighted and late-weighted indices of production. If production is properly measured in what economists mean by real terms, the Gerschenkron effect does not exist at all.

Suggested Citation

  • Stefano Fenoaltea, 2019. "Of economics and statistics: the Gerschenkron effect," PSL Quarterly Review, Economia civile, vol. 72(290), pages 195-205.
    • Handle: RePEc:psl:pslqrr:2019:32
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    File URL: https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/15693/15076
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    References listed on IDEAS

    as
    1. Alberto Baffigi, 2011. "Italian National Accounts, 1861-2011," Quaderni di storia economica (Economic History Working Papers) 18, Bank of Italy, Economic Research and International Relations Area.
    2. Sims, Christopher A, 1969. "Theoretical Basis for a Double Deflated Index of Real Value Added," The Review of Economics and Statistics, MIT Press, vol. 51(4), pages 470-471, November.
    3. Easterlin, Richard A., 1974. "Does Economic Growth Improve the Human Lot? Some Empirical Evidence," MPRA Paper 111773, University Library of Munich, Germany.
    4. Solomon Fabricant, 1940. "The Output of Manufacturing Industries, 1899-1937," NBER Books, National Bureau of Economic Research, Inc, number fabr40-1.
    5. Edward Ames & John A. Carlson, 1968. "Production Index Bias As A Measure Of Economic Development," Oxford Economic Papers, Oxford University Press, vol. 20(1), pages 24-37.
    6. Jonas, Paul & Sardy, Hyman, 1970. "The Gerschenkron Effect: A Re-Examination," The Review of Economics and Statistics, MIT Press, vol. 52(1), pages 82-86, February.
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    Cited by:

    1. Stefano Fenoaltea, 2020. "The fruits of disaggregation: The engineering industry, tariff protection, and the industrial investment cycle in Italy, 1861-1913," PSL Quarterly Review, Economia civile, vol. 73(292), pages 77-110.
    2. Stefano Fenoaltea, 2014. "The measurement of production movements: lessons from the engineering industry in Italy, 1861-1913," Carlo Alberto Notebooks 400, Collegio Carlo Alberto.
    3. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861-1913: A Statistical Reconstruction. A. Introduction," Carlo Alberto Notebooks 412, Collegio Carlo Alberto.
    4. Fenoaltea, Stefano, 2015. "The measurement of production movements: Lessons from the general engineering industry in Italy, 1861–1913," Explorations in Economic History, Elsevier, vol. 57(C), pages 19-37.
    5. Chunyun Wang & Xiaoxi Yu & Jiang Zhao, 2022. "Identifying the Real Income Disparity in Prefecture-Level Cities in China: Measurement of Subnational Purchasing Power Parity Based on the Stochastic Approach," Sustainability, MDPI, vol. 14(16), pages 1-24, August.

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    More about this item

    Keywords

    Measurement; production; Gerschenkron effect;
    All these keywords.

    JEL classification:

    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • N00 - Economic History - - General - - - General

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