Of economics and statistics: the “Gerschenkron effect”


  • Stefano Fenoaltea Fondazione Luigi Einaudi, Turin




Measurement, production, Gerschenkron effect


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.

JEL codes: C19, C43, N00


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How to Cite

Fenoaltea, S. (2019). Of economics and statistics: the “Gerschenkron effect”. PSL Quarterly Review, 72(290), 195–205. https://doi.org/10.13133/2037-3643_72.290_2