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Total Public And Private Construction In The United States, 1923-1933: Detailed Comparisons Of Different Estimates

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Total Public And Private Construction In The United States, 1923-1933: Detailed Comparisons Of Different Estimates This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Public Works in Prosperity and Depression Volume Author/Editor: Arthur D. Gayer Volume Publisher: NBER Volume ISBN: 0-87014-028-0 Volume URL: http://www.nber.org/books/gaye35-1 Publication Date: 1935 Chapter Title: Total Public And Private Construction In The United States, 1923-1933: Detailed Comparisons Of Different Estimates Chapter Author: Arthur D. Gayer Chapter URL: http://www.nber.org/chapters/c5611 Chapter pages in book: (p. 47 - 71) III TOTAL PUBLIC AND PRIVATE CONSTRUCTION IN THE UNITED STATES, 1923-1933: DETAILED COMPARISONS OF DIFFERENT ESTIMATES1 ESTIMATES OF TOTAL PUBLIC AND PRIVATE CONSTRUCTION Two comprehensive estimates are available of the total vol- ume of public works of all types performed throughout the country during each year of the last decade or so, and three of the total volume of all construction work, public and private. All these estimates are made by widely different methods and to a considerable extent on the basis of differ- ent original data. They are all, of necessity, by reason of the nature of the material available, subject to a wide margin of error. The procedure employed for each estimate must therefore be described in some detail both in order that the elements of uncertainty in these figures be fully recog- nized and to allow intelligent comparison of the various estimates. The estimates are as follows: Public Construction a. By the author, on the basis of figures of contracts awarded and, for roadbuilding, of actual expenditures. This estimate was made originally in 1929 for the report of the National Bureau of Economic Research, Planning Readers' who are not interested in the details of the methods by which these estimates were made may pass directly to the next chapter. 47 48 PLA

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