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English

Trading gains: new estimates of swiss gdp, 1851 to 2008

ContributorsStohr, Christian
Number of pages67
Collection
  • Working Papers of the Paul Bairoch Institute of Economic History; 4/2016
Publication date2016
Abstract

This paper revises Swiss GDP emphasizing the difference between single and double deflation, which depends on trading gains: i.e. gains from terms of trade and from the real exchange rate. These gains contributed significantly to Swiss economic growth between 1930 and 1990. Earlier series of Swiss GDP have neglected trading gains. In backward projections, this leads to overestimation of GDP (per capita) levels. The Maddison database (Bolt & Zanden 2014), for example, suggests that Swiss GDP per capita was 38 percent above that of the USA in 1875. My series shows that Swiss GDP per capita was still below the Western European average.

Keywords
  • Historical National Accounts
  • Gross Domestic Income
  • Double Deflation
  • Real Exchange Rate
  • Terms of Trade
  • Switzerland
Classification
  • JEL : C82
Citation (ISO format)
STOHR, Christian. Trading gains: new estimates of swiss gdp, 1851 to 2008. 2016
Main files (1)
Working paper
accessLevelPublic
Identifiers
  • PID : unige:86942
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Technical informations

Creation09/05/2016 6:15:00 PM
First validation09/05/2016 6:15:00 PM
Update time03/15/2023 12:42:55 AM
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