Depression dynamics
A new estimate of the Anglo-American manufacturing productivity gap in the interwar period1
Bibliographic Data
| ID | 3565904 |
|---|---|
| Authors | Herman De Jong (0000-0002-5213-4356, University of Groningen), Pieter Woltjer (0000-0001-7781-7754, University of Groningen) |
| Year | 2011 |
| Volume | 64 |
| Issue | 2 |
| Pages | 472-492 |
| Publication date | 2011-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic History Review (JOURNAL) |
| Journal identifiers | ISSN: 0013-0117 • E-ISSN: 1468-0289 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-0289.2010.00546.x |
| OpenAlex | W2099725510 |
| Language | EN |
| Citations received | 12 |
| References cited | 36 |
During the interwar period the manufacturing productivity gap between the US and the UK became much larger than existing estimates suggest. In this article a new comparison of US/UK productivity levels for 1935 is presented, utilizing a more rigorous methodology to revise the widely used, but methodologically outdated, benchmark comparison by Rostas that was published in 1948. Secondly, the comparison is extended to take account of variations in input prices, and it is shown that double deflation has a substantial effect on the new benchmark, particularly at the industry level. Thirdly, labour input is adjusted for actual hours worked. US manufacturing displayed a much higher level of comparative productivity for the key industries of the second industrial revolution, such as chemicals and engineering. These results support revisionist accounts of the depression's strengthening of US productivity leadership
Benchmark (surveying) · Classical economics · Deflation · Depression (economics) · Economics · Geography · Great Depression · Industrial Revolution · Interwar period · Macroeconomics · Political science · Productivity · World War II · Economic Growth and Productivity · Economic Theory and Policy · Historical Economic and Social Studies · Law
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| Unique citing works | 12 |
|---|---|
| Citations per year | 0,75 |
| Citation span | 2010 - 2025 (16) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 10 |