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Of Economics and Statistics: the "Gerschenkron Effect"

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  • Stefano Fenoaltea

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, 2015. "Of Economics and Statistics: the "Gerschenkron Effect"," Carlo Alberto Notebooks 406, Collegio Carlo Alberto.
    • Handle: RePEc:cca:wpaper:406
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    References listed on IDEAS

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    1. 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.
    2. Solomon Fabricant, 1940. "The Output of Manufacturing Industries, 1899-1937," NBER Books, National Bureau of Economic Research, Inc, number fabr40-1, February.
    3. 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.
    4. 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.
    5. 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.
    6. Easterlin, Richard A., 1974. "Does Economic Growth Improve the Human Lot? Some Empirical Evidence," MPRA Paper 111773, University Library of Munich, Germany.
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    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861-1913: A Statistical Reconstruction. A. Introduction," Carlo Alberto Notebooks 412, Collegio Carlo Alberto.
    5. Stefano Fenoaltea, 2014. "The measurement of production movements: lessons from the engineering industry in Italy, 1861-1913," Carlo Alberto Notebooks 400, Collegio Carlo Alberto.

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    More about this item

    Keywords

    Gerschenkron effect; index-number problem;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

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