RAW DATA USED FOR THE BORDO PAPER TABLES AND FIGURES POP : POPULATION M : MONEY YR : REAL INCOME DEFL : DEFLATOR CPI : CONSUMER PRICE INDEX IL : LONG-TERM INTEREST RATE IS : SHORT-TERM INTEREST RATE E : EXCHANGE RATE ANY ADDITIONAL SERIES ARE DEFINED IN THE INDIVIDUAL COUNTRY SECTIONS Canada POP M YR DEFL CPI IS 1880 4.26 105.67 1566.04 37.10 40.07 . 1881 4.33 121.26 1618.12 37.08 41.84 . 1882 4.38 132.04 1669.36 37.04 44.49 . 1883 4.43 128.49 1726.09 37.02 44.79 . 1884 4.49 123.55 1782.34 37.03 39.19 . 1885 4.54 131.74 1841.25 37.04 39.19 . 1886 4.58 128.47 1902.19 37.01 38.89 . 1887 4.63 139.35 1974.97 36.76 41.25 . 1888 4.68 154.26 2029.22 36.96 39.48 . 1889 4.73 158.02 2095.86 36.93 40.37 . 1890 4.78 167.15 2176.15 36.90 39.48 . 1891 4.83 185.45 2234.01 36.75 39.48 . 1892 4.88 204.09 2292.98 36.59 39.48 . 1893 4.93 203.18 2353.75 36.41 39.19 . 1894 4.98 211.85 2415.89 36.26 35.95 . 1895 5.03 216.97 2479.91 36.09 34.18 . 1896 5.07 227.22 2545.91 35.94 35.95 . 1897 5.12 255.12 2611.73 35.80 36.24 . 1898 5.18 285.50 2682.59 35.60 37.71 . 1899 5.24 315.35 2757.06 35.40 36.54 . 1900 5.30 340.83 2832.86 35.30 37.71 . 1901 5.37 382.02 3063.54 36.20 38.01 . 1902 5.49 419.81 3319.78 36.90 38.60 . 1903 5.65 450.89 3553.76 37.20 38.89 . 1904 5.83 503.47 3727.03 37.00 39.48 . 1905 6.00 564.82 4145.55 37.10 39.78 . 1906 6.10 642.67 4429.30 38.90 40.66 . 1907 6.41 616.07 4473.82 40.10 41.84 . 1908 6.63 675.51 4316.95 40.70 42.72 . 1909 6.80 809.78 4818.41 40.20 43.61 . 1910 6.99 879.54 5021.95 41.00 44.79 . 1911 7.21 983.41 5309.93 41.30 45.96 . 1912 7.39 1061.94 5593.89 42.60 48.03 . 1913 7.63 1107.91 5829.88 43.50 49.50 . 1914 7.88 1121.25 5392.46 45.10 49.80 . 1915 7.98 1264.84 5339.54 48.30 50.70 . 1916 8.00 1426.74 5624.30 53.50 54.90 . 1917 8.06 1716.23 5586.26 65.50 65.00 . 1918 8.15 1828.15 5923.74 69.50 73.50 . 1919 8.31 1987.21 6094.11 76.50 80.80 . 1920 8.56 2091.34 6162.41 86.20 93.60 . 1921 8.79 1925.81 5371.46 77.80 82.40 . 1922 8.92 1856.09 6032.30 71.20 75.40 . 1923 9.01 1873.82 6562.41 69.70 75.60 . 1924 9.14 1936.39 6317.00 69.40 74.30 . 1925 9.29 2020.19 6838.21 71.70 75.00 . 1926 9.45 2097.84 7545.46 68.20 75.80 . 1927 9.64 2241.43 8238.51 67.50 74.50 . 1928 9.84 2319.79 9016.40 67.10 74.80 . 1929 10.03 2271.18 9041.24 67.90 75.70 . 1930 10.21 2161.75 8640.48 66.20 75.20 . 1931 10.38 2043.10 7557.16 62.10 67.80 . 1932 10.51 1965.98 7155.72 53.30 61.60 . 1933 10.63 1990.88 6314.65 55.30 58.70 . 1934 10.74 2107.81 7074.87 56.10 59.50 . 1935 10.85 2274.46 7639.43 56.30 59.90 1.51 1936 10.95 2389.89 7975.91 58.10 61.10 0.85 1937 11.05 2481.54 8793.63 59.60 63.00 0.72 1938 11.15 2598.32 8845.64 59.60 63.70 0.60 1939 11.27 2895.93 9511.00 59.10 63.20 0.70 1940 11.38 2991.53 10844.92 61.90 65.70 0.71 1941 11.51 3327.44 12416.80 66.70 69.60 0.58 1942 11.65 3764.21 14727.41 69.70 72.90 0.54 1943 11.80 4361.88 15330.10 72.10 74.20 0.48 1944 11.95 5185.12 15924.73 74.40 74.60 0.38 1945 12.07 5875.68 15547.84 76.30 75.00 0.36 1946 12.29 6756.68 15140.13 78.50 77.50 0.39 1947 12.55 7020.84 15776.34 85.40 84.80 0.41 1948 12.82 7662.55 16172.05 95.90 97.00 0.41 1949 13.45 8045.98 16800.00 100.00 100.00 0.48 1950 13.71 8505.52 18057.61 102.40 102.90 0.55 1951 14.01 8669.87 18982.46 114.00 113.70 0.79 1952 14.46 9257.53 20644.83 119.10 116.50 1.07 1953 14.85 9315.90 21726.65 118.90 115.50 1.71 1954 15.29 10136.10 21455.30 120.80 116.20 1.42 1955 15.70 10880.24 23479.83 121.50 116.40 1.62 1956 15.92 11154.48 25342.28 126.50 118.10 2.93 1957 16.35 11500.68 26059.88 128.60 121.90 3.76 1958 16.91 12928.25 26649.04 130.50 125.10 2.25 1959 17.32 12789.32 27682.95 133.10 126.50 4.81 1960 17.77 13402.87 28456.24 134.80 128.00 3.20 1961 18.09 14554.21 29259.03 135.30 129.19 2.81 1962 18.44 15120.46 31287.89 137.20 130.68 4.05 1963 18.79 16149.62 33125.35 138.80 133.07 3.56 1964 19.14 17355.88 35111.73 143.20 135.45 3.75 1965 19.50 19344.51 37433.40 147.90 138.79 3.98 1966 19.86 20575.03 40044.03 154.40 144.04 5.00 1967 20.23 23683.66 41350.54 160.60 149.28 4.64 1968 20.58 27185.76 43779.24 165.80 155.01 6.27 1969 20.89 27907.34 46109.20 173.10 162.16 7.19 1970 21.18 31158.17 47313.62 181.10 167.41 5.99 1971 21.47 34533.85 50535.07 186.90 172.18 3.56 1972 21.72 32580.19 53608.76 196.30 180.76 3.56 1973 21.98 38685.03 57684.40 214.20 194.12 5.47 1974 22.24 44637.91 59577.65 246.20 215.58 7.82 1975 22.57 51606.82 60182.84 273.80 238.95 7.40 1976 22.88 57294.18 62599.85 300.20 256.59 8.87 1977 23.16 65854.33 64833.35 322.50 277.10 7.33 1978 23.42 77317.76 67293.40 344.00 301.90 8.67 1979 23.65 84943.86 69495.47 379.40 329.57 11.68 1980 23.91 101233.33 70216.08 421.50 362.95 12.80 1981 24.22 116696.00 72371.82 466.20 408.26 17.72 1982 24.48 127702.50 69070.86 513.20 452.62 13.64 1983 24.71 133974.69 71288.79 543.50 478.85 9.30 1984 24.90 139675.35 74525.11 560.20 499.84 11.06 1985 25.09 153491.67 75782.19 602.60 519.39 9.43 1986 25.27 169598.67 76788.59 627.70 540.85 8.97 1987 25.65 186731.00 81359.32 657.78 564.70 8.15 1988 25.95 200873.67 84761.61 689.55 587.59 9.48 1989 26.25 227185.42 87052.29 723.09 616.69 12.50 IL E 1880 4.30 1.00 1881 4.20 1.00 1882 4.20 1.00 1883 4.10 1.00 1884 4.10 1.00 1885 4.10 1.00 1886 3.90 1.00 1887 3.90 1.00 1888 3.60 1.00 1889 3.50 1.00 1890 3.80 1.00 1891 4.00 1.00 1892 3.90 1.00 1893 3.60 1.00 1894 3.40 1.00 1895 3.20 1.00 1896 3.10 1.00 1897 2.80 1.00 1898 2.90 1.00 1899 3.00 1.00 1900 3.00 1.00 1901 3.00 1.00 1902 2.90 1.00 1903 3.00 1.00 1904 3.20 1.00 1905 3.10 1.00 1906 3.10 1.00 1907 3.20 1.00 1908 3.30 1.00 1909 3.50 1.00 1910 3.50 1.00 1911 3.50 1.00 1912 3.60 1.00 1913 4.10 1.00 1914 3.90 1.00 1915 3.80 1.00 1916 4.30 1.00 1917 4.90 1.00 1918 5.40 1.02 1919 5.50 1.05 1920 6.00 1.12 1921 6.00 1.12 1922 5.40 1.02 1923 5.20 1.02 1924 5.00 1.01 1925 4.90 1.00 1926 4.80 1.00 1927 4.50 1.00 1928 4.40 1.00 1929 4.80 1.01 1930 4.60 1.00 1931 4.70 1.04 1932 5.00 1.14 1933 4.50 1.09 1934 3.90 0.99 1935 3.70 1.01 1936 3.30 1.00 1937 3.50 1.00 1938 3.30 1.01 1939 3.30 1.04 1940 3.30 . 1941 3.20 . 1942 3.10 . 1943 3.10 . 1944 3.00 . 1945 3.00 . 1946 2.70 1.07 1947 2.70 1.09 1948 3.00 1.09 1949 2.90 1.08 1950 2.70 1.09 1951 3.30 1.05 1952 3.60 0.98 1953 3.60 0.98 1954 3.10 0.97 1955 3.10 0.99 1956 3.60 0.98 1957 4.10 0.96 1958 4.10 0.97 1959 5.00 0.96 1960 4.90 0.97 1961 5.00 1.01 1962 5.20 1.07 1963 5.00 1.08 1964 5.10 1.08 1965 5.20 1.08 1966 5.73 1.08 1967 6.09 1.08 1968 6.94 1.08 1969 7.82 1.08 1970 7.50 1.04 1971 7.14 1.01 1972 7.30 0.99 1973 7.67 1.00 1974 9.28 0.98 1975 9.23 1.02 1976 9.18 0.99 1977 8.70 1.06 1978 9.30 1.14 1979 10.26 1.17 1980 12.49 1.17 1981 15.22 1.20 1982 14.26 1.23 1983 11.79 1.23 1984 12.75 1.30 1985 11.04 1.37 1986 9.52 1.39 1987 9.95 1.33 1988 10.22 1.23 1989 12.50 1.18 France POP M YR DEFL CPI IS 1880 37.31 0.13 173.35 12.20 1.26 2.52 1881 37.41 0.14 188.43 11.98 1.23 3.68 1882 37.51 0.14 195.02 12.00 1.22 3.41 1883 37.62 0.14 200.23 11.22 1.19 2.67 1884 37.72 0.14 198.86 10.75 1.13 2.48 1885 37.83 0.13 196.39 10.59 1.15 2.45 1886 37.93 0.14 172.25 11.95 1.33 2.20 1887 37.97 0.14 196.66 10.56 1.11 2.42 1888 38.01 0.15 193.65 10.98 1.13 2.73 1889 38.05 0.13 193.92 11.01 1.15 2.54 1890 38.09 0.14 204.89 10.81 1.12 2.62 1891 38.13 0.14 207.91 10.88 1.12 2.51 1892 38.16 0.14 216.41 10.59 1.02 1.81 1893 38.19 0.15 219.70 10.24 1.02 2.22 1894 38.21 0.15 232.32 9.66 0.96 1.79 1895 38.24 0.15 227.11 9.61 0.93 1.63 1896 38.27 0.15 235.61 9.24 0.93 1.71 1897 38.31 0.15 227.66 10.17 0.94 1.82 1898 38.34 0.15 246.86 10.08 0.97 1.99 1899 38.38 0.16 238.63 10.62 1.02 2.84 1900 38.41 0.17 240.82 10.85 1.04 3.04 1901 38.45 0.17 240.00 10.67 1.06 2.41 1902 38.53 0.17 240.00 10.32 1.11 2.39 1903 38.61 0.18 247.00 10.62 1.06 2.70 1904 38.69 0.19 267.00 9.91 0.91 2.14 1905 38.77 0.20 264.00 10.41 1.00 2.11 1906 38.85 0.21 270.00 10.54 1.03 2.68 1907 38.91 0.21 277.00 11.09 0.95 3.35 1908 38.98 0.23 279.00 10.75 1.02 2.14 1909 39.05 0.24 288.00 10.72 1.09 1.75 1910 39.12 0.24 288.00 11.27 1.11 2.39 1911 39.19 0.25 300.00 11.60 1.12 2.61 1912 39.15 0.25 328.00 11.74 1.13 3.12 1913 39.11 0.27 328.00 11.84 1.16 3.82 1914 39.07 . . . . 2.87 1915 39.03 . . . . . 1916 39.00 . . . . . 1917 38.96 . . . . . 1918 38.92 . . . . . 1919 38.88 . . . . . 1920 38.84 0.67 270.00 . . . 1921 38.80 0.69 250.00 62.40 4.47 . 1922 39.08 0.69 304.00 53.62 4.22 . 1923 39.37 0.72 329.00 55.32 5.43 . 1924 39.66 0.74 381.00 55.12 6.23 . 1925 39.94 0.91 384.00 60.42 7.11 5.69 1926 40.23 1.09 401.00 71.07 9.17 5.66 1927 40.43 1.22 387.00 72.35 7.98 2.91 1928 40.63 1.46 410.00 76.34 8.04 3.02 1929 40.83 1.50 453.00 71.74 7.90 3.47 1930 41.03 1.65 447.00 74.94 6.90 2.35 1931 41.23 1.81 428.00 78.27 5.79 1.56 1932 41.22 1.80 398.00 70.85 5.15 1.30 1933 41.21 1.66 400.00 68.25 4.95 1.63 1934 41.20 1.63 392.00 64.03 4.64 2.02 1935 41.19 1.50 375.00 65.87 4.40 3.24 1936 41.18 1.60 371.00 74.93 5.13 3.68 1937 41.05 1.75 384.00 85.42 7.14 3.83 1938 40.92 2.04 380.00 100.00 8.12 2.76 1939 40.78 2.43 . . . 2.05 1940 40.65 3.47 . . . . 1941 40.52 5.03 . . . . 1942 40.38 5.70 . . . . 1943 40.25 7.44 . . . . 1944 40.12 9.38 . . . . 1945 39.98 9.77 . . . . 1946 39.85 12.55 . . . 1.31 1947 40.31 15.66 341.00 . . 1.57 1948 40.77 20.27 366.00 . 100.00 2.09 1949 41.24 27.12 414.00 1871.26 116.00 2.26 1950 41.70 31.29 448.00 1998.66 130.00 2.43 1951 42.05 36.95 476.00 2300.84 151.00 2.70 1952 42.39 41.88 492.00 2607.52 169.00 3.85 1953 42.74 46.58 506.00 2637.35 167.00 4.04 1954 43.08 52.98 530.00 2663.40 163.66 3.59 1955 43.43 59.69 559.00 2708.05 163.66 3.16 1956 43.87 65.85 593.00 2807.42 170.34 3.18 1957 44.31 71.37 624.00 2995.51 180.36 5.35 1958 44.79 75.73 641.00 3343.06 202.07 6.49 1959 45.24 83.92 655.00 3567.94 210.42 4.07 1960 45.68 95.00 706.00 3753.54 217.10 4.08 1961 46.16 109.00 736.00 3872.28 224.99 3.65 1962 47.00 129.00 785.00 4038.22 234.86 3.61 1963 47.82 148.00 823.00 4471.45 246.70 3.98 1964 48.31 160.00 870.00 4701.15 256.57 4.70 1965 48.76 176.00 895.00 4893.85 263.02 4.17 1966 49.16 189.00 941.67 5065.49 270.22 4.79 1967 49.55 198.00 985.81 5203.86 277.42 4.77 1968 49.91 213.00 1027.79 5448.56 290.07 6.21 1969 50.32 214.00 1099.65 6302.02 308.68 8.97 1970 50.77 201.71 1162.67 6730.73 324.81 8.67 1971 51.25 226.63 1225.54 7118.72 342.67 5.84 1972 51.70 261.09 1297.85 7559.56 362.81 4.95 1973 52.13 286.08 1367.50 8147.69 389.45 8.91 1974 52.49 321.93 1411.71 9055.01 442.72 12.91 1975 52.79 374.49 1414.33 10268.57 494.36 7.92 1976 52.89 395.00 1487.46 11280.76 541.82 8.56 1977 53.08 435.00 1532.88 12294.43 592.74 9.07 1978 53.28 481.00 1589.68 13466.55 646.62 7.98 1979 53.48 541.00 1644.67 14832.19 715.83 9.04 1980 53.71 573.00 1663.70 16558.83 811.25 11.85 1981 53.97 661.00 1683.27 18801.54 919.51 15.30 1982 54.22 723.00 1726.12 21006.81 1028.17 14.87 1983 54.65 812.00 1738.11 23050.94 1127.09 12.53 1984 54.94 881.00 1760.95 24770.20 1210.61 11.74 1985 55.17 938.00 1794.08 26198.07 1280.34 9.93 1986 55.39 998.00 1835.39 27528.34 1312.35 7.74 1987 55.63 1044.00 1871.02 28333.90 1355.88 7.98 1988 55.87 1099.00 1936.98 29213.58 1393.01 7.52 1989 56.16 1185.00 . . 1441.67 9.07 IL E 1880 3.56 0.05 1881 3.54 0.05 1882 3.67 0.05 1883 3.83 0.05 1884 3.88 0.05 1885 3.79 0.05 1886 3.66 0.05 1887 3.78 0.05 1888 3.63 0.05 1889 3.51 0.05 1890 3.26 0.05 1891 3.18 0.05 1892 3.07 0.05 1893 3.10 0.05 1894 2.98 0.05 1895 2.96 0.05 1896 2.94 0.05 1897 2.90 0.05 1898 2.92 0.05 1899 2.98 0.05 1900 2.98 0.05 1901 2.96 0.05 1902 2.99 0.05 1903 3.06 0.05 1904 3.11 0.05 1905 3.03 0.05 1906 3.08 0.05 1907 3.16 0.05 1908 3.13 0.05 1909 3.07 0.05 1910 3.06 0.05 1911 3.14 0.05 1912 3.27 0.05 1913 3.44 0.05 1914 3.78 0.05 1915 4.36 0.06 1916 4.80 0.06 1917 4.95 0.06 1918 4.94 0.06 1919 4.82 0.09 1920 5.30 0.14 1921 5.30 0.13 1922 5.05 0.12 1923 5.42 0.17 1924 5.58 0.19 1925 6.37 0.21 1926 6.15 0.31 1927 4.60 0.25 1928 4.35 0.26 1929 4.08 0.26 1930 3.44 0.25 1931 3.48 0.26 1932 3.84 0.25 1933 4.38 0.21 1934 4.14 0.15 1935 3.88 0.15 1936 4.32 0.17 1937 4.27 0.25 1938 4.04 0.35 1939 3.97 0.40 1940 . . 1941 . . 1942 . . 1943 . . 1944 . . 1945 . . 1946 . . 1947 . . 1948 . . 1949 6.28 3.31 1950 6.52 3.49 1951 6.54 3.50 1952 5.60 3.50 1953 5.41 3.50 1954 5.38 3.50 1955 5.21 3.50 1956 5.38 3.50 1957 5.92 3.50 1958 5.68 4.92 1959 5.27 4.90 1960 5.15 4.90 1961 5.07 4.90 1962 5.02 4.90 1963 4.97 4.90 1964 5.08 4.90 1965 5.27 4.90 1966 5.40 4.91 1967 5.66 4.92 1968 5.86 4.95 1969 7.64 5.55 1970 8.06 5.52 1971 7.74 5.51 1972 7.35 5.04 1973 8.25 4.45 1974 10.49 4.81 1975 9.49 4.29 1976 9.16 4.78 1977 9.61 4.92 1978 8.96 4.51 1979 9.48 4.26 1980 12.99 4.23 1981 15.66 5.44 1982 15.69 6.58 1983 13.63 7.62 1984 12.54 8.74 1985 10.94 8.98 1986 8.44 6.93 1987 9.43 6.01 1988 9.06 5.96 1989 8.79 6.38 Germany POP M YR DEFL CPI 1880 45.10 7346.00 20576.00 82.10 40.46 1881 45.40 7717.00 20616.00 84.10 40.99 1882 45.70 7809.00 20444.00 85.50 39.93 1883 46.00 8124.00 21909.00 82.20 39.93 1884 46.40 8658.00 22712.00 81.60 38.33 1885 46.70 8895.00 23452.00 79.90 37.26 1886 47.10 9391.00 24142.00 78.40 36.20 1887 47.60 9644.00 24558.00 78.50 36.20 1888 48.20 10098.00 25840.00 80.20 37.26 1889 48.70 11086.00 26478.00 85.90 38.86 1890 49.20 11291.00 27754.00 85.30 39.93 1891 49.80 11557.00 26822.00 84.30 40.99 1892 50.30 11974.00 28390.00 84.80 40.46 1893 50.80 12355.00 30606.00 79.60 39.93 1894 51.30 13396.00 30196.00 80.70 39.39 1895 52.00 14598.00 32079.00 78.70 38.86 1896 52.80 15156.00 33377.00 80.80 38.33 1897 53.60 16156.00 34739.00 82.70 39.39 1898 54.40 17364.00 36813.00 84.30 40.46 1899 55.20 18547.00 36860.00 86.20 40.46 1900 56.00 19455.00 36466.00 89.00 40.99 1901 56.90 20544.00 36197.00 87.30 41.52 1902 57.80 22128.00 36918.00 86.50 41.52 1903 58.60 23582.00 40132.00 85.70 41.52 1904 59.50 25640.00 42263.00 85.90 42.05 1905 60.30 27872.00 43346.00 89.70 43.65 1906 61.20 30295.00 44299.00 91.70 46.31 1907 62.00 26917.00 46181.00 93.10 46.85 1908 62.90 33241.00 46410.00 91.40 46.85 1909 63.70 35768.00 47512.00 93.40 47.91 1910 64.60 38490.00 47457.00 96.50 48.98 1911 65.40 40363.00 49648.00 96.90 50.57 1912 66.20 42295.00 51914.00 99.30 53.23 1913 67.00 43616.00 52440.00 100.00 53.23 1914 67.80 . . . 55.90 1915 67.90 . . . . 1916 67.70 . . . . 1917 67.40 . . . . 1918 66.80 . . . . 1919 62.90 . . . . 1920 61.80 . . . . 1921 62.50 . . . . 1922 61.90 . . . . 1923 62.30 . . . . 1924 62.70 . . . 69.74 1925 63.20 16706.00 46897.00 143.60 75.59 1926 63.60 19293.00 46587.00 140.50 75.59 1927 64.00 20989.00 53108.00 151.50 78.79 1928 64.40 21891.00 53950.00 155.60 80.92 1929 64.70 22267.00 51694.00 153.80 81.98 1930 65.10 20898.00 49289.00 145.80 78.79 1931 65.40 17577.00 43913.00 133.20 72.40 1932 65.70 15933.00 41760.00 121.60 64.41 1933 66.00 16253.00 47375.00 119.80 62.82 1934 66.40 17583.00 52102.00 124.00 64.41 1935 66.90 19659.00 58658.00 122.80 65.48 1936 67.30 21154.00 66226.00 119.20 66.54 1937 67.80 22916.00 73167.00 120.10 66.54 1938 68.60 27891.00 81335.00 120.50 67.07 1939 69.30 . . . 67.07 1940 69.80 . . . . 1941 70.20 . . . . 1942 70.80 . . . . 1943 70.40 . . . . 1944 69.90 . . . . 1945 67.60 . . . . 1946 43.30 . . . 94.76 1947 44.70 . . . 100.61 1948 45.70 . . . 108.06 1949 46.50 20100.00 . . 107.00 1950 47.10 23200.00 313418.50 31.30 100.00 1951 47.50 30700.00 321236.60 37.20 108.00 1952 47.70 36400.00 361640.20 37.80 110.00 1953 48.20 44300.00 408011.00 36.20 108.00 1954 48.70 56100.00 438121.50 36.20 108.00 1955 49.20 63300.00 491598.90 36.90 110.16 1956 49.80 70600.00 526246.70 38.10 112.32 1957 50.50 83300.00 552040.80 39.20 115.56 1958 51.10 96000.00 577093.60 40.60 117.72 1959 51.70 112200.00 620194.60 41.10 118.80 1960 55.40 124800.00 732125.60 41.40 119.88 1961 56.20 121400.00 763824.90 43.40 123.41 1962 56.80 134400.00 799334.80 45.10 126.93 1963 57.40 150500.00 821720.40 46.50 130.46 1964 58.00 169800.00 875991.60 47.90 133.98 1965 58.60 192300.00 922132.80 49.70 138.57 1966 59.20 213500.00 950097.50 51.30 143.41 1967 59.30 242700.00 949423.10 52.00 145.51 1968 59.50 284200.00 1004896.40 53.10 147.60 1969 60.10 316700.00 1079241.90 55.40 151.66 1970 60.70 352400.00 1132550.30 59.60 157.30 1971 61.30 406300.00 1167391.30 64.40 165.63 1972 61.70 468700.00 1224035.60 67.40 174.76 1973 62.00 522400.00 1274341.20 72.10 186.87 1974 62.10 572000.00 1276554.40 77.20 199.92 1975 61.80 649700.00 1257701.70 81.80 211.88 1976 61.50 600500.00 1324292.50 84.80 220.99 1977 61.40 662700.00 1350225.70 88.60 229.04 1978 61.30 730900.00 1407088.30 91.70 235.40 1979 61.30 768300.00 1462578.60 95.40 244.93 1980 61.56 803300.00 1485700.00 100.00 258.49 1981 61.67 832900.00 1484326.90 104.00 273.75 1982 61.64 890100.00 1472283.60 108.60 288.17 1983 61.42 941000.00 1490901.00 112.10 297.70 1984 61.18 993700.00 1538441.30 114.20 304.91 1985 61.02 1073500.00 1576243.60 116.60 311.60 1986 61.05 1143500.00 1626897.50 119.60 310.83 1987 61.17 1212300.00 1654311.39 122.00 311.45 1988 61.20 1282300.00 1714656.52 123.80 315.50 1989 61.64 1347100.00 1782500.93 126.60 324.21 IS IL E 1880 3.38 4.05 4.19 1881 4.13 3.96 4.19 1882 3.88 3.94 4.18 1883 3.50 3.92 4.18 1884 2.89 3.88 4.18 1885 2.85 3.81 4.19 1886 2.16 3.74 4.18 1887 2.30 3.70 4.19 1888 2.11 3.64 4.18 1889 2.63 3.60 4.19 1890 3.78 3.68 4.18 1891 3.02 3.71 4.18 1892 1.80 3.68 4.18 1893 3.17 3.65 4.19 1894 1.74 3.56 4.18 1895 2.01 3.36 4.18 1896 3.04 3.35 4.18 1897 3.09 3.36 4.19 1898 3.55 3.40 4.21 1899 4.45 3.55 4.20 1900 4.41 3.68 4.20 1901 3.06 3.65 4.19 1902 2.19 3.52 4.19 1903 3.01 3.53 4.20 1904 3.14 3.57 4.19 1905 2.85 3.57 4.20 1906 4.04 3.63 4.21 1907 5.12 3.75 4.21 1908 3.52 3.80 4.19 1909 2.86 3.70 4.19 1910 3.54 3.76 4.20 1911 3.54 3.79 4.20 1912 4.22 3.91 4.20 1913 4.98 4.09 4.20 1914 3.63 5.06 4.28 1915 . . . 1916 . . . 1917 . . . 1918 . . . 1919 3.19 6.20 . 1920 3.59 6.34 . 1921 3.49 6.45 . 1922 5.94 . . 1923 . . . 1924 . 9.97 4.20 1925 7.62 8.45 4.20 1926 4.92 6.71 4.20 1927 5.49 5.93 4.21 1928 6.53 6.89 4.19 1929 6.87 7.27 4.20 1930 4.43 7.24 4.19 1931 6.78 7.33 4.21 1932 4.95 10.19 4.21 1933 3.88 7.81 3.40 1934 3.77 6.77 2.51 1935 3.15 4.78 2.49 1936 2.96 4.77 2.48 1937 2.91 4.60 2.49 1938 2.88 4.51 2.49 1939 2.82 4.56 2.49 1940 . . . 1941 . . . 1942 . . . 1943 . . . 1944 . . . 1945 . . . 1946 . . . 1947 . . . 1948 . 5.39 3.33 1949 . 5.22 3.58 1950 4.20 5.78 4.20 1951 6.02 6.33 4.20 1952 5.17 5.28 4.20 1953 3.58 5.67 4.20 1954 2.94 . 4.20 1955 3.13 . 4.21 1956 4.70 6.23 4.20 1957 4.08 6.64 4.20 1958 2.93 6.28 4.20 1959 2.67 5.86 4.18 1960 4.54 6.50 4.17 1961 2.96 6.00 4.02 1962 2.69 6.03 4.00 1963 2.97 6.12 3.99 1964 3.29 6.17 3.97 1965 4.11 6.74 3.99 1966 5.34 7.64 4.00 1967 3.35 7.01 3.99 1968 2.58 6.84 3.99 1969 4.81 7.02 3.92 1970 8.65 8.14 3.65 1971 6.10 8.28 3.48 1972 4.30 8.36 3.19 1973 10.18 9.59 2.66 1974 8.86 10.73 2.59 1975 4.40 9.00 2.46 1976 3.90 8.20 2.52 1977 4.10 6.60 2.32 1978 3.40 6.40 2.01 1979 5.90 7.70 1.83 1980 9.10 8.70 1.82 1981 11.30 10.60 2.26 1982 8.70 9.10 2.43 1983 5.40 8.00 2.55 1984 5.50 7.80 2.85 1985 5.20 7.00 2.94 1986 4.60 6.10 2.17 1987 3.70 5.90 1.80 1988 4.00 6.10 1.76 1989 6.60 7.20 1.88 Italy POP M YR DEFL CPI 1880 29552.00 4060.70 60.89 100.00 100.00 1881 29791.00 4049.10 57.54 96.93 93.54 1882 30005.00 3963.30 60.58 98.47 91.31 1883 30221.00 4053.80 60.02 94.71 88.38 1884 30511.00 4288.10 61.13 92.27 86.67 1885 30776.00 4555.30 62.70 96.55 88.59 1886 30937.00 4939.40 64.56 97.21 88.48 1887 31160.00 5071.20 65.26 91.57 88.28 1888 31325.00 5107.00 63.08 90.86 89.39 1889 31611.00 5226.10 60.87 96.58 90.91 1890 31792.00 5178.20 65.08 97.38 94.14 1891 31992.00 5110.80 65.68 99.35 93.84 1892 32189.00 5275.70 62.58 95.12 93.03 1893 32417.00 5270.60 64.57 93.41 91.01 1894 32608.00 5186.00 64.06 90.42 90.61 1895 32770.00 5215.80 65.23 92.58 90.10 1896 32995.00 5173.20 66.37 91.24 89.70 1897 33200.00 5317.10 63.82 92.61 89.49 1898 33369.00 5478.20 68.67 97.14 90.10 1899 33605.00 5871.40 69.54 97.04 88.69 1900 33739.00 6009.40 73.15 98.97 89.09 1901 34015.00 6247.80 77.95 95.78 89.19 1902 34316.00 6431.20 76.31 94.32 88.59 1903 34555.00 6850.50 79.85 97.66 91.21 1904 34875.00 7325.00 79.58 97.18 92.32 1905 35147.00 7982.90 83.19 98.29 92.42 1906 35446.00 8179.80 84.64 104.91 94.14 1907 35742.00 8960.30 92.93 107.34 98.59 1908 36055.00 9428.30 90.99 105.53 97.58 1909 36370.00 9984.50 97.32 106.92 94.85 1910 36774.00 10564.50 90.41 115.37 97.47 1911 37059.00 11160.80 97.48 117.10 99.90 1912 37241.00 11329.80 99.74 120.42 100.81 1913 37255.00 11849.30 101.95 121.63 101.01 1914 37797.00 12698.80 99.24 117.10 101.01 1915 38168.00 14635.60 105.58 128.80 108.08 1916 38118.00 18332.20 113.50 172.38 135.25 1917 37844.00 24932.10 114.80 237.40 191.31 1918 37195.00 34001.20 109.07 305.29 266.77 1919 37304.00 47714.00 104.65 375.39 270.81 1920 37491.00 58144.00 110.80 540.47 355.86 1921 37890.00 55882.30 106.70 525.91 421.01 1922 38281.00 57628.60 113.00 530.80 418.48 1923 38629.00 65589.50 118.30 553.60 416.06 1924 38990.00 73904.90 118.30 584.24 430.71 1925 39339.00 79038.80 125.80 690.03 483.84 1926 39665.00 86965.60 126.80 719.65 521.92 1927 40030.00 89045.60 125.50 624.66 477.17 1928 40342.00 92637.00 137.50 577.18 442.22 1929 40595.00 94517.20 139.50 565.79 449.29 1930 40987.00 94256.90 130.00 535.00 435.05 1931 41277.00 93316.60 127.20 472.69 393.03 1932 41585.00 90358.30 132.30 427.43 382.73 1933 41921.00 92810.90 133.20 397.33 360.10 1934 42265.00 91590.50 132.50 397.24 341.52 1935 42592.00 92085.00 146.10 400.95 346.36 1936 42908.00 101087.00 142.50 429.40 372.53 1937 43228.00 101413.60 155.10 488.31 407.78 1938 43610.00 109225.70 153.70 521.69 439.09 1939 44119.00 124554.70 162.70 538.28 458.48 1940 44562.00 151700.70 156.10 649.28 535.05 1941 44885.00 201350.50 150.50 769.47 619.09 1942 45119.00 270012.30 144.40 993.09 715.56 1943 45235.00 432108.50 129.80 1482.37 1200.00 1944 45344.00 675073.00 99.50 3590.69 5332.73 1945 45540.00 955893.00 83.20 8144.50 10503.03 1946 45910.00 1433164.00 126.30 12452.42 12395.56 1947 46210.00 2080012.00 152.50 22169.58 20088.38 1948 46552.00 3081351.00 152.70 25365.87 21269.60 1949 46914.00 3905870.00 162.90 25483.61 21581.31 1950 47295.00 4586250.00 173.30 26425.31 21291.52 1951 47540.00 5170250.00 183.40 29484.42 23359.60 1952 47792.00 6072080.00 192.32 30277.46 24352.02 1953 48121.00 6872820.00 207.84 30835.80 24826.16 1954 48477.00 7679220.00 215.87 31428.71 25493.64 1955 48789.00 8617920.00 230.43 32413.74 26209.29 1956 49052.00 9581290.00 242.64 33754.07 27513.43 1957 49311.00 10417140.00 256.96 34597.68 28044.75 1958 49640.00 11717790.00 269.36 34751.82 29388.38 1959 50023.00 13384020.00 288.11 34401.05 29265.45 1960 50372.00 15159190.00 314.60 35158.17 30042.63 1961 50675.00 17558230.00 341.71 35952.48 30920.81 1962 51012.00 20456150.00 367.23 37876.87 32497.78 1963 51385.00 23109720.00 395.78 40792.47 34940.51 1964 51816.00 25121850.00 402.06 43242.54 37012.22 1965 52159.00 28994530.00 428.69 44659.90 38620.10 1966 52505.00 33022700.00 458.59 45594.37 39393.13 1967 52830.00 37437300.00 494.02 46774.45 40181.01 1968 53144.00 41687800.00 526.43 46882.98 40693.13 1969 53490.00 46299500.00 568.62 48952.40 41835.56 1970 53832.00 52603700.00 608.56 51853.72 43962.73 1971 54179.00 61588700.00 608.74 60173.48 46160.91 1972 54646.00 73278900.00 635.02 63072.23 48754.65 1973 55180.00 89672100.00 680.16 71378.37 53810.40 1974 55645.00 103423600.00 717.08 85514.46 64273.54 1975 56014.00 127723200.00 698.07 99662.27 75308.18 1976 56317.32 154303400.00 741.72 118316.15 87749.60 1977 56549.87 187910000.00 769.10 139897.92 103632.32 1978 56752.09 231080200.00 797.39 159569.18 116531.31 1979 56913.86 278164000.00 845.17 183970.77 134870.71 1980 57045.30 313530500.00 880.98 220835.04 163389.90 1981 57126.19 344835579.85 889.43 261822.09 192644.47 1982 57267.74 407163383.57 892.27 306596.95 224388.79 1983 57469.96 457188967.95 902.36 352286.81 257377.99 1984 57631.73 512716951.69 929.55 392617.04 285076.47 1985 57763.17 569192194.17 953.81 427628.27 311218.86 1986 57854.17 622542292.42 978.22 460323.07 329580.77 1987 57985.61 674365239.55 1007.93 487370.86 345141.71 1988 58076.61 732001278.81 1049.82 517675.15 362569.97 1989 58157.50 812335094.90 1083.02 550488.28 385288.94 IL E 1880 4.88 5.57 1881 4.88 5.23 1882 4.97 5.26 1883 4.98 5.16 1884 4.62 5.14 1885 4.57 5.17 1886 4.41 5.14 1887 4.47 5.21 1888 4.52 5.20 1889 4.59 5.18 1890 4.60 5.23 1891 4.71 5.24 1892 4.76 5.30 1893 4.64 5.56 1894 4.59 5.66 1895 4.38 5.39 1896 4.86 5.51 1897 4.18 5.39 1898 4.16 5.56 1899 4.01 5.52 1900 4.03 5.47 1901 3.98 5.35 1902 3.91 5.19 1903 3.91 5.13 1904 3.90 5.13 1905 3.83 5.11 1906 3.87 5.16 1907 3.69 5.17 1908 3.64 5.11 1909 3.61 5.13 1910 3.61 5.17 1911 3.67 5.18 1912 3.60 5.21 1913 3.59 5.25 1914 3.75 5.23 1915 4.44 6.06 1916 4.40 6.57 1917 5.22 7.41 1918 5.49 7.85 1919 5.33 8.76 1920 6.38 21.14 1921 6.62 23.59 1922 6.37 21.19 1923 6.47 21.76 1924 5.27 23.00 1925 5.49 25.09 1926 5.83 25.72 1927 6.49 19.71 1928 6.19 19.02 1929 6.50 19.09 1930 6.43 19.09 1931 6.35 19.16 1932 6.29 19.47 1933 5.84 15.59 1934 4.26 11.69 1935 5.10 12.12 1936 5.45 14.16 1937 5.53 19.00 1938 5.52 19.00 1939 5.81 19.23 1940 5.73 19.80 1941 5.68 19.37 1942 5.74 19.01 1943 8.32 19.00 1944 6.67 63.57 1945 6.02 100.00 1946 5.93 218.84 1947 6.51 292.42 1948 6.30 574.65 1949 5.75 590.82 1950 5.90 624.78 1951 6.40 624.88 1952 6.05 624.91 1953 6.24 624.90 1954 6.29 624.83 1955 6.47 625.00 1956 6.99 625.00 1957 7.28 625.00 1958 6.24 624.70 1959 5.48 621.10 1960 5.31 620.90 1961 5.04 621.10 1962 5.12 620.80 1963 5.27 621.60 1964 5.86 624.50 1965 5.46 624.90 1966 5.55 624.50 1967 5.66 624.10 1968 5.70 623.40 1969 5.88 627.30 1970 7.82 627.20 1971 7.13 618.36 1972 6.66 583.22 1973 6.94 583.00 1974 9.23 650.34 1975 10.19 652.85 1976 12.61 832.29 1977 14.71 882.39 1978 13.18 848.70 1979 13.12 830.90 1980 15.30 856.40 1981 19.36 1136.80 1982 20.22 1352.50 1983 18.30 1518.80 1984 15.60 1757.00 1985 13.71 1909.40 1986 11.47 1490.80 1987 10.58 1296.10 1988 10.54 1301.60 1989 11.61 1372.10 Japan POP M YR DEFL CPI IS 1880 36.65 1.63 . . . 1.48 1881 36.97 1.58 . . . 2.23 1882 37.26 1.51 . . . 2.58 1883 37.57 1.42 . . . 1.13 1884 37.96 1.30 . . . 2.60 1885 38.32 1.33 5451.90 0.01 . 3.07 1886 38.54 1.48 5770.23 0.01 . 2.89 1887 38.70 1.50 6151.12 0.01 . 2.49 1888 39.03 1.50 6278.30 0.01 . 2.66 1889 39.47 1.55 6683.61 0.01 . 2.79 1890 39.90 1.78 6490.75 0.02 . 2.92 1891 40.25 1.87 7124.83 0.02 . 2.58 1892 40.51 1.95 7006.25 0.02 . 2.28 1893 40.86 2.36 7389.55 0.02 . 1.93 1894 41.14 2.51 7720.57 0.02 . 2.64 1895 41.56 3.07 8186.83 0.02 . 2.71 1896 41.99 3.35 8149.60 0.02 . 2.59 1897 42.40 3.76 8065.95 0.02 . 2.83 1898 42.89 3.42 8360.30 0.03 . 3.13 1899 43.40 4.35 8938.02 0.03 . 2.31 1900 43.85 4.14 8818.31 0.03 . 2.90 1901 44.36 4.04 9144.91 0.03 . 3.18 1902 44.96 4.58 8988.90 0.03 . 2.67 1903 45.55 4.70 9031.64 0.03 . 2.10 1904 46.14 6.88 10025.06 0.03 . 2.16 1905 46.62 10.82 9561.12 0.03 . 2.40 1906 47.04 10.55 9526.65 0.03 . 2.16 1907 47.42 7.44 9890.66 0.04 . 2.17 1908 47.97 6.91 10160.34 0.04 . 2.54 1909 48.55 7.46 10416.78 0.04 . 2.09 1910 49.18 8.29 11075.44 0.03 . 1.58 1911 49.85 9.03 11206.70 0.04 . 1.62 1912 50.58 9.04 11211.02 0.04 . 1.99 1913 51.31 8.84 11302.88 0.04 . 2.30 1914 52.04 8.60 11391.39 0.04 . 2.32 1915 52.75 10.58 12061.21 0.04 . 1.93 1916 53.50 13.38 13050.25 0.05 . 1.57 1917 54.13 19.31 14223.14 0.06 . 1.66 1918 54.74 25.38 15454.17 0.07 . 1.79 1919 55.03 33.32 16218.26 0.09 . 2.07 1920 55.47 31.33 16143.87 0.10 . 2.86 1921 56.12 32.83 17179.12 0.08 . 2.47 1922 56.84 31.48 16729.21 0.09 . 2.55 1923 57.58 33.25 15959.26 0.09 . 2.59 1924 58.35 31.99 17960.75 0.08 . 2.62 1925 59.18 32.01 17432.85 0.09 . 2.52 1926 60.21 31.27 17561.39 0.09 . 2.43 1927 61.14 31.94 18150.91 0.09 . 2.30 1928 62.07 31.61 19332.75 0.08 . 2.08 1929 62.93 29.77 19412.83 0.08 . 1.88 1930 63.87 26.36 20205.87 0.07 . 1.83 1931 64.87 24.18 20878.25 0.06 . 1.82 1932 65.89 25.77 21071.43 0.06 . 1.94 1933 66.88 27.78 21953.46 0.07 . 1.70 1934 67.69 29.53 24318.03 0.07 . 1.54 1935 68.66 29.71 24905.05 0.07 . 1.47 1936 69.59 32.47 25692.74 0.07 . 1.40 1937 70.04 40.55 31777.11 0.08 . 1.35 1938 70.53 53.01 32847.83 0.08 . 1.31 1939 70.85 76.25 33120.38 0.10 . 1.27 1940 71.40 95.81 31142.17 0.13 . 1.25 1941 71.60 122.76 31642.34 0.15 . . 1942 72.30 153.63 32054.15 0.17 . . 1943 73.30 200.27 31973.28 0.20 . . 1944 73.80 377.52 30899.57 0.25 . . 1945 72.20 963.36 . . . . 1946 75.80 1690.00 . . . . 1947 78.10 3520.00 . . . . 1948 80.01 6360.00 . . . . 1949 81.78 6980.00 . . . . 1950 83.59 8020.00 . 16.84 77.00 . 1951 84.84 10570.00 . 21.00 89.00 . 1952 86.08 12870.00 30520.81 21.00 93.00 . 1953 87.33 16770.00 32430.99 22.28 100.00 5.80 1954 88.57 17370.00 34325.69 23.35 105.00 5.80 1955 89.82 19580.00 37358.98 23.62 104.00 6.43 1956 90.69 23410.00 40082.75 24.83 105.00 7.30 1957 91.56 24190.00 43069.61 26.34 108.00 8.08 1958 92.39 27000.00 45483.86 25.92 109.00 7.83 1959 93.29 31020.00 49529.72 26.71 110.00 6.97 1960 94.10 37260.00 56131.32 28.24 115.00 7.13 1961 94.95 50580.00 64258.42 30.46 121.57 6.83 1962 95.83 59600.00 68768.55 31.56 129.24 7.13 1963 96.81 59766.67 75964.88 32.98 139.10 5.95 1964 97.83 70118.75 85949.09 34.44 144.57 6.38 1965 98.88 80377.41 90373.00 36.19 140.58 5.67 1966 99.79 92692.25 99853.00 38.04 148.20 5.40 1967 100.83 106805.10 110237.00 40.39 153.44 5.53 1968 101.96 124902.90 124046.00 42.54 162.02 6.03 1969 103.17 149043.60 139055.00 44.66 170.60 5.93 1970 104.34 179902.90 152208.00 48.08 183.47 6.15 1971 105.70 220607.50 158767.00 50.76 194.90 5.38 1972 107.19 269735.30 172318.00 53.62 204.43 4.41 1973 108.71 344960.50 185923.00 60.52 228.26 5.97 1974 110.16 390990.30 183285.00 73.11 281.16 9.00 1975 111.57 438290.40 188189.00 78.73 314.51 7.88 1976 112.77 497431.10 197215.00 84.38 343.58 6.50 1977 113.86 532005.30 207738.00 89.31 371.70 5.07 1978 114.90 585618.30 218522.00 93.57 387.42 3.62 1979 115.87 648484.30 230074.00 96.41 401.72 4.69 1980 116.78 665117.50 239915.00 100.08 433.17 8.12 1981 117.65 687069.50 248725.90 103.25 454.61 6.31 1982 118.45 727018.40 256395.20 105.19 467.00 5.50 1983 119.26 753607.90 264703.70 105.99 476.06 5.38 1984 120.02 774868.00 278140.00 107.30 486.54 5.00 1985 120.75 814073.20 291806.90 108.78 496.55 5.00 1986 121.49 870239.10 299023.90 110.78 499.88 3.63 1987 122.09 961595.60 312903.20 110.41 500.36 2.54 1988 122.61 1042530.00 330886.80 111.03 503.70 2.50 1989 123.12 909238.60 347312.28 112.56 515.13 3.13 IL E 1880 . 1.08 1881 . 1.11 1882 . 1.10 1883 . 1.12 1884 . 1.13 1885 . 1.19 1886 . 1.29 1887 . 1.31 1888 . 1.34 1889 . 1.31 1890 . 1.19 1891 . 1.25 1892 . 1.42 1893 . 1.65 1894 . 1.96 1895 . 1.98 1896 . 1.97 1897 . 2.01 1898 . 2.04 1899 . 2.02 1900 . 2.03 1901 . 2.03 1902 . 2.01 1903 . 2.02 1904 . 2.04 1905 . 2.02 1906 . 2.03 1907 . 2.02 1908 . 2.03 1909 . 2.02 1910 . 2.02 1911 . 2.03 1912 . 2.02 1913 . 2.03 1914 . 2.03 1915 . 2.05 1916 . 2.00 1917 . 1.98 1918 . 1.94 1919 . 1.97 1920 . 2.03 1921 . 2.08 1922 . 2.08 1923 . 2.05 1924 . 2.31 1925 . 2.44 1926 . 2.17 1927 . 2.11 1928 . 2.16 1929 . 2.16 1930 . 2.03 1931 . 2.38 1932 . 3.51 1933 . 3.88 1934 . 3.40 1935 . 3.52 1936 . 3.45 1937 . 3.46 1938 . 3.56 1939 . 3.95 1940 . 4.27 1941 . 4.27 1942 . 4.29 1943 . 4.29 1944 . 4.29 1945 . 6.90 1946 . 14.99 1947 . 44.05 1948 . 160.00 1949 . 330.00 1950 . 361.10 1951 . 361.10 1952 . 361.10 1953 . 360.80 1954 . 360.80 1955 . 360.80 1956 . 359.84 1957 . 359.84 1958 . 359.84 1959 . 359.96 1960 . 359.91 1961 . 361.15 1962 . 360.82 1963 . 361.48 1964 . 361.97 1965 . 361.49 1966 6.86 362.35 1967 6.91 362.15 1968 7.03 360.55 1969 7.09 358.37 1970 7.19 358.07 1971 7.28 347.86 1972 6.70 303.17 1973 7.26 271.70 1974 9.26 292.08 1975 9.20 296.79 1976 8.72 296.55 1977 7.33 268.51 1978 6.09 210.44 1979 7.69 219.14 1980 9.22 226.74 1981 8.66 220.54 1982 8.06 249.08 1983 7.42 237.51 1984 6.81 237.52 1985 6.34 238.54 1986 4.94 168.52 1987 4.21 144.64 1988 4.27 128.15 1989 5.05 137.96 THE FOLLOWING SERIES WAS CREATED BY LINKING THREE SEPARATE CPI SERIES TOGETHER. THE SERIES FROM 1946 TO 1950 WAS USED TO LINK THE OTHER TWO. THIS NEW CPI MEASURE WAS NECESSARY FOR USE IN CERTAIN PROGRAMS THAT ARE SENSITIVE TO ROUNDING. YEAR CPI_2 1922 0.6659325533 1923 0.6264280798 1924 0.6264280798 1925 0.6151410874 1926 0.5643496215 1927 0.5304886442 1928 0.5192016518 1929 0.5135581555 1930 0.4401927047 1931 0.3837577426 1932 0.3894012388 1933 0.4119752237 1934 0.4232622161 1935 0.4289057123 1936 0.4514796972 1937 0.4909841707 1938 0.5643496215 1939 0.632071576 1940 0.7336545079 1941 0.7449415003 1942 0.7675154852 1943 0.8126634549 1944 0.9086028906 1945 1.3375086029 1946 8.2 1947 17.5 1948 32.1 1949 42.3 1950 39.4 1951 45.54025974 1952 47.587012987 1953 51.168831169 1954 53.727272727 1955 53.215584416 1956 53.727272727 1957 55.262337662 1958 55.774025974 1959 56.285714286 1960 58.844155844 1961 62.205948052 1962 66.130597403 1963 71.175844156 1964 73.974779221 1965 71.933142857 1966 75.832207792 1967 78.513454545 1968 82.90374026 1969 87.294025974 1970 93.879454545 1971 99.728051948 1972 104.60444156 1973 116.79797403 1974 143.86628571 1975 160.93109091 1976 175.80587013 1977 190.19454545 1978 198.23828571 1979 205.55542857 1980 221.64802597 1981 232.61862338 1982 238.95844156 1983 243.59433766 1984 248.95683117 1985 254.07371429 1986 255.78275325 1987 256.02836364 1988 257.73228571 1989 263.586 THE FOLLOWING DEFLATOR SERIES WAS ALSO NECESSARY FOR THE ROUNDING SENSITIVE PROGRAMS. YEAR DEFL_2 1880 . 1881 . 1882 . 1883 . 1884 . 1885 0.014285 1886 0.013397 1887 0.012850 1888 0.013328 1889 0.013807 1890 0.015721 1891 0.015447 1892 0.015516 1893 0.015652 1894 0.016746 1895 0.018318 1896 0.019754 1897 0.023444 1898 0.025358 1899 0.025017 1900 0.026452 1901 0.026247 1902 0.027272 1903 0.028844 1904 0.029186 1905 0.031168 1906 0.033492 1907 0.036568 1908 0.035816 1909 0.035064 1910 0.034244 1911 0.038482 1912 0.041147 1913 0.042856 1914 0.040191 1915 0.039985 1916 0.045522 1917 0.058372 1918 0.074024 1919 0.092069 1920 0.095145 1921 0.083730 1922 0.089950 1923 0.090360 1924 0.083799 1925 0.090155 1926 0.087900 1927 0.086738 1928 0.082500 1929 0.081065 1930 0.070160 1931 0.061380 1932 0.063358 1933 0.066831 1934 0.065965 1935 0.068775 1936 0.070913 1937 0.075457 1938 0.083489 1939 0.102241 1940 0.129485 1941 0.145229 1942 0.173661 1943 0.204321 1944 0.246795 1945 . 1946 . 1947 . 1948 . 1949 . 1950 16.83784 1951 21.00000 1952 20.99728 1953 22.27914 1954 23.34546 1955 23.62264 1956 24.83405 1957 26.33678 1958 25.92452 1959 26.71245 1960 28.24083 1961 30.46400 1962 31.55898 1963 32.97808 1964 34.43717 1965 36.19112 1966 38.04393 1967 40.39025 1968 42.54228 1969 44.65643 1970 48.08420 1971 50.76118 1972 53.62237 1973 60.51968 1974 73.10854 1975 78.73467 1976 84.38354 1977 89.30961 1978 93.57182 1979 96.41463 1980 100.0763 1981 103.2529 1982 105.1880 1983 105.9931 1984 107.3030 1985 108.7846 1986 110.7782 1987 110.4099 1988 111.0315 1989 112.5600 United Kingdom POP M YR DEFL CPI IS 1880 34.60 565.00 8863.20 11.70 103.00 2.53 1881 34.90 580.00 8819.70 12.20 101.00 3.05 1882 35.20 597.00 8928.00 12.50 100.00 3.55 1883 35.50 601.00 9418.80 11.70 100.00 3.22 1884 35.70 607.00 9330.40 11.50 95.00 2.58 1885 36.00 612.00 9362.80 11.30 89.00 2.40 1886 36.30 615.00 9491.20 11.40 87.00 2.33 1887 36.60 624.00 9973.50 11.30 86.00 2.65 1888 36.90 639.00 10117.60 11.90 86.00 2.53 1889 37.20 663.00 10368.00 12.50 87.00 2.85 1890 37.50 688.00 10440.90 12.70 87.00 3.88 1891 37.80 710.00 10801.70 12.10 87.00 2.77 1892 38.10 727.00 10655.50 11.90 88.00 1.77 1893 38.50 722.00 10616.70 12.00 87.00 2.31 1894 38.90 729.00 11163.90 12.20 83.00 1.19 1895 39.20 769.00 11528.91 12.10 81.00 0.96 1896 39.60 811.00 12127.10 11.80 81.00 1.57 1897 40.00 843.00 12139.30 12.20 83.00 1.93 1898 40.40 858.00 12811.50 12.20 86.00 2.65 1899 40.80 894.00 13516.40 12.20 84.00 3.25 1900 41.20 913.00 13242.20 12.80 89.00 3.71 1901 41.50 913.00 13785.10 12.10 88.00 3.17 1902 41.90 921.00 13827.90 12.20 88.00 2.97 1903 42.20 913.00 13841.70 12.00 89.00 3.38 1904 42.60 898.00 13957.60 11.80 90.00 2.68 1905 43.00 911.00 14256.20 12.10 90.00 2.62 1906 43.40 935.00 14616.01 12.50 91.00 3.97 1907 43.70 963.00 14664.11 13.10 93.00 4.49 1908 44.10 967.00 14193.80 12.90 91.00 2.29 1909 44.50 993.00 14653.51 12.70 92.00 2.28 1910 44.90 1021.00 15179.71 12.80 94.00 3.16 1911 45.30 1050.00 15576.90 13.00 95.00 2.91 1912 45.40 1067.00 15562.00 13.70 98.00 3.62 1913 45.60 1108.00 16462.70 13.40 100.00 4.37 1914 46.00 1198.00 16525.90 13.50 101.00 2.91 1915 46.30 1390.00 18107.91 13.90 121.00 3.66 1916 46.50 1531.00 18090.90 16.50 143.00 5.20 1917 46.60 1733.00 18425.70 20.20 173.00 4.79 1918 46.60 2103.00 18024.00 25.00 199.00 3.57 1919 46.50 2572.01 15887.81 29.40 211.00 3.93 1920 43.70 2889.00 13758.80 36.90 244.00 6.41 1921 44.10 2878.99 13033.70 32.60 222.00 5.17 1922 44.40 2661.99 13600.70 27.30 179.00 2.64 1923 44.60 2471.01 14111.61 25.10 171.00 2.72 1924 44.90 2448.00 14533.59 25.30 172.00 3.46 1925 45.10 2431.01 15404.70 25.70 173.00 4.14 1926 45.20 2420.00 14694.10 25.50 169.00 4.48 1927 45.40 2457.01 15805.59 25.20 164.00 4.26 1928 45.60 2498.00 16112.90 24.80 163.00 4.16 1929 45.70 2541.99 16442.20 25.10 161.00 5.26 1930 45.90 2548.99 16391.09 24.80 155.00 2.57 1931 46.10 2522.99 15369.69 23.80 145.00 3.61 1932 46.30 2571.01 15368.00 23.10 141.00 1.87 1933 46.50 2782.00 15665.21 23.30 137.00 0.69 1934 46.70 2720.99 16853.41 23.20 138.00 0.82 1935 46.90 2873.99 17502.11 23.30 140.00 0.58 1936 47.10 3080.00 18025.11 23.90 144.00 0.60 1937 47.30 3205.01 18749.01 24.30 152.00 0.58 1938 47.50 3218.00 19325.21 24.60 153.00 0.63 1939 48.00 3196.01 19947.20 24.60 158.00 1.22 1940 48.20 3514.00 23138.10 23.90 179.00 1.04 1941 48.20 4049.99 24525.51 27.40 197.00 1.03 1942 48.40 4568.00 24747.50 30.10 210.00 1.03 1943 48.80 5226.01 25216.61 31.40 217.00 1.03 1944 49.00 5934.00 23935.10 33.90 222.00 1.03 1945 49.20 6708.00 22175.20 37.10 226.00 0.95 1946 49.20 7263.99 21948.91 37.20 236.00 0.53 1947 49.50 8044.02 21451.90 40.50 249.00 0.53 1948 50.00 8170.00 22168.20 43.40 268.00 0.56 1949 50.30 8240.00 22761.60 45.30 275.00 0.63 1950 50.60 8292.99 23756.00 45.50 283.00 0.69 1951 50.30 8454.00 24364.20 48.60 311.00 0.91 1952 50.40 8412.00 24155.30 52.80 338.00 2.71 1953 50.60 8651.98 25290.99 53.60 349.00 2.77 1954 50.80 9039.99 26190.30 55.70 355.00 1.84 1955 50.90 9076.01 26949.69 57.60 371.00 3.75 1956 51.20 8982.98 27506.50 61.20 389.00 5.05 1957 51.40 9183.98 28009.39 63.70 404.00 4.98 1958 51.70 9447.01 27898.10 66.70 416.00 4.74 1959 52.00 9838.02 28782.41 68.00 418.00 3.49 1960 52.40 10194.01 30101.21 69.20 422.00 5.05 1961 52.80 10520.02 31174.79 71.50 437.00 5.41 1962 53.30 10747.03 31526.39 73.90 455.00 4.40 1963 53.60 11184.01 32854.50 75.60 465.00 3.83 1964 54.00 11887.97 34810.32 77.50 480.00 4.81 1965 54.40 12524.00 35627.50 80.80 503.00 6.29 1966 54.50 13123.05 36172.62 84.00 523.24 6.43 1967 54.80 14733.04 37013.88 86.50 534.80 6.08 1968 55.10 15800.00 38213.41 89.50 560.82 6.84 1969 55.30 16255.00 38913.71 92.70 589.72 8.48 1970 55.40 17775.08 39600.01 100.00 630.20 8.26 1971 55.60 19560.06 40325.50 110.30 688.01 6.41 1972 55.80 25233.04 40902.11 121.50 737.16 6.11 1973 55.90 32353.07 43921.90 131.90 806.53 10.43 1974 55.92 36197.15 43609.32 152.30 933.73 13.06 1975 55.90 39189.92 42486.19 195.80 1162.10 10.62 1976 55.89 40099.89 47665.85 212.50 1352.90 11.19 1977 55.85 43836.74 46584.10 242.10 1566.82 7.90 1978 55.84 50770.57 48648.66 269.00 1696.90 8.95 1979 55.88 57209.28 48563.31 308.10 1925.28 13.44 1980 55.95 67749.51 46355.28 369.00 2269.28 15.88 1981 56.35 84516.95 45396.32 411.40 2541.02 13.13 1982 56.34 92178.34 45728.08 443.20 2757.83 11.60 1983 56.38 102273.09 48201.12 465.70 2885.02 9.67 1984 56.49 112541.25 49687.20 484.90 3029.56 9.39 1985 56.62 128134.43 51636.25 513.30 3211.68 11.69 1986 56.76 151753.00 53492.79 531.32 3321.53 10.37 1987 56.93 186011.00 55974.36 557.71 3460.29 9.25 1988 57.08 223710.00 58183.54 594.05 3630.85 9.78 1989 57.20 270867.00 . . 3914.15 13.05 IL E 1880 3.05 4.86 1881 3.00 4.85 1882 2.98 4.89 1883 2.97 4.86 1884 2.97 4.87 1885 3.02 4.87 1886 2.98 4.88 1887 2.95 4.87 1888 3.02 4.89 1889 2.88 4.88 1890 2.85 4.87 1891 2.87 4.87 1892 2.85 4.88 1893 2.79 4.87 1894 2.72 4.89 1895 2.59 4.90 1896 2.48 4.88 1897 2.45 4.87 1898 2.48 4.86 1899 2.58 4.87 1900 2.76 4.87 1901 2.93 4.88 1902 2.91 4.88 1903 2.83 4.87 1904 2.83 4.87 1905 2.78 4.87 1906 2.83 4.86 1907 2.97 4.87 1908 2.91 4.87 1909 2.97 4.88 1910 3.08 4.87 1911 3.15 4.87 1912 3.28 4.87 1913 3.40 4.87 1914 3.34 4.93 1915 3.82 4.76 1916 4.31 4.77 1917 4.57 4.76 1918 4.40 4.77 1919 4.63 4.43 1920 5.32 3.66 1921 5.21 3.85 1922 4.43 4.43 1923 4.31 4.57 1924 4.39 4.42 1925 4.43 4.83 1926 4.55 4.86 1927 4.56 4.86 1928 4.48 4.87 1929 4.60 4.86 1930 4.48 4.86 1931 4.40 4.54 1932 3.75 3.51 1933 3.39 4.24 1934 3.10 5.04 1935 2.89 4.90 1936 2.93 4.97 1937 3.28 4.94 1938 3.38 4.89 1939 3.72 . 1940 3.40 . 1941 3.13 . 1942 3.03 . 1943 3.10 . 1944 3.14 . 1945 2.92 . 1946 2.60 4.03 1947 2.76 4.03 1948 3.21 4.03 1949 3.30 3.67 1950 3.54 2.80 1951 3.78 2.80 1952 4.23 2.79 1953 4.08 2.81 1954 3.75 2.81 1955 4.17 2.79 1956 4.73 2.80 1957 4.98 2.79 1958 4.98 2.81 1959 4.82 2.81 1960 5.42 2.81 1961 6.20 2.80 1962 5.98 2.81 1963 5.58 2.80 1964 6.03 2.79 1965 6.42 2.80 1966 6.80 2.79 1967 6.69 2.75 1968 7.39 2.39 1969 8.88 2.39 1970 9.16 2.40 1971 9.05 2.44 1972 9.11 2.50 1973 10.85 2.45 1974 14.95 2.34 1975 14.66 2.22 1976 14.25 1.81 1977 12.31 1.75 1978 11.93 1.92 1979 11.39 2.12 1980 19.88 2.33 1981 13.01 2.03 1982 11.90 1.75 1983 10.24 1.52 1984 10.16 1.34 1985 10.11 1.30 1986 9.87 1.47 1987 9.48 1.64 1988 9.36 1.78 1989 9.58 1.64 United States POP M YR DEFL CPI IS IL 1880 50.30 1.94 0.67 18.19 29.00 5.23 4.58 1881 51.50 2.33 0.68 17.84 29.00 5.20 4.26 1882 52.80 2.52 0.71 18.41 29.00 5.64 4.31 1883 54.10 2.66 0.70 18.19 28.00 5.62 4.33 1884 55.40 2.68 0.72 17.24 27.00 5.20 4.28 1885 56.70 2.75 0.72 16.10 27.00 4.06 4.08 1886 58.00 2.96 0.76 15.88 27.00 4.76 3.81 1887 59.20 3.19 0.78 16.04 27.00 5.75 3.87 1888 60.50 3.29 0.76 16.32 27.00 4.89 3.80 1889 61.80 3.46 0.79 16.42 27.00 4.86 3.66 1890 63.10 3.77 0.85 16.09 27.00 5.62 3.78 1891 64.40 3.93 0.89 15.83 27.00 5.39 3.95 1892 65.70 4.25 0.97 15.24 27.00 4.11 3.83 1893 67.00 4.16 0.92 15.57 27.00 6.79 3.93 1894 68.30 4.11 0.90 14.59 26.00 3.04 3.72 1895 69.60 4.30 1.01 14.39 25.00 3.67 3.59 1896 70.90 4.16 0.98 14.00 25.00 5.81 3.63 1897 72.20 4.51 1.08 14.06 25.00 3.50 3.44 1898 73.50 5.08 1.10 14.52 25.00 3.82 3.38 1899 74.80 5.80 1.20 14.98 25.00 4.15 3.24 1900 76.10 6.41 1.24 15.70 25.00 4.38 3.30 1901 77.60 7.17 1.38 15.57 25.00 4.28 3.25 1902 79.20 7.86 1.39 16.09 26.00 4.92 3.30 1903 80.60 8.42 1.46 16.29 27.00 5.47 3.45 1904 82.20 8.88 1.44 16.48 27.00 4.28 3.60 1905 83.80 9.80 1.55 16.81 27.00 4.40 3.50 1906 85.40 10.73 1.73 17.27 27.00 5.68 3.55 1907 87.00 11.19 1.76 17.99 28.00 6.34 3.80 1908 88.70 11.11 1.61 17.86 27.00 4.37 3.95 1909 90.50 12.35 1.81 18.44 27.00 3.98 3.77 1910 92.40 12.84 1.86 18.96 28.00 5.01 3.80 1911 93.90 13.77 1.92 18.74 28.00 4.03 3.90 1912 95.30 14.61 2.02 19.52 29.00 4.74 3.90 1913 97.20 15.49 2.03 19.44 29.70 5.58 4.00 1914 99.10 15.81 1.96 19.83 30.10 4.79 4.10 1915 100.50 17.06 1.94 20.73 30.40 3.45 4.15 1916 102.00 16.68 2.08 23.20 32.70 3.42 4.05 1917 103.30 23.08 2.12 28.61 38.40 4.74 4.05 1918 103.20 26.32 2.45 31.30 45.10 5.87 4.75 1919 104.50 27.37 2.29 36.80 51.80 5.42 4.75 1920 106.50 30.68 2.14 42.70 60.00 7.37 5.10 1921 108.50 29.46 2.00 34.80 53.60 6.53 5.17 1922 110.10 31.51 2.30 32.30 50.20 4.42 4.71 1923 112.00 34.03 2.48 33.60 51.10 4.97 4.61 1924 114.10 35.55 2.56 33.10 51.20 3.90 4.66 1925 115.80 39.00 2.76 33.80 52.50 4.00 4.50 1926 117.40 41.27 2.92 33.30 53.00 4.23 4.40 1927 119.00 42.08 2.93 32.40 52.00 4.02 4.30 1928 120.50 43.27 2.96 32.80 51.30 4.84 4.05 1929 121.80 43.33 3.16 32.76 51.30 5.78 4.42 1930 123.10 41.73 2.86 31.75 50.00 3.55 4.40 1931 124.00 37.16 2.64 28.87 45.60 2.63 4.10 1932 124.80 30.88 2.27 25.67 40.90 2.72 4.70 1933 125.60 27.63 2.22 25.13 38.80 1.67 4.15 1934 126.40 29.30 2.39 27.30 40.10 0.88 3.99 1935 127.30 32.48 2.60 27.88 41.10 0.75 3.50 1936 128.10 37.85 2.96 28.00 41.50 0.75 3.20 1937 128.80 38.16 3.10 29.30 43.00 0.94 3.08 1938 129.80 38.53 2.97 28.66 42.20 0.86 3.00 1939 130.90 42.09 3.20 28.43 41.60 0.72 2.75 1940 132.00 46.55 3.44 29.06 42.00 0.81 2.70 1941 133.40 53.67 4.01 31.23 44.10 0.70 2.65 1942 134.90 65.42 4.62 34.32 48.80 0.69 2.65 1943 136.70 88.08 5.32 36.14 51.80 0.72 2.65 1944 138.40 106.28 5.69 37.01 52.70 0.75 2.60 1945 139.90 126.46 5.60 37.91 53.90 0.75 2.55 1946 141.40 119.61 4.78 43.88 58.50 0.81 2.43 1947 144.10 124.10 4.70 49.53 66.90 1.03 2.50 1948 146.60 172.21 4.90 52.98 72.10 1.44 2.80 1949 149.20 173.77 4.92 52.48 71.40 1.49 2.74 1950 151.70 179.49 5.35 53.55 72.17 1.45 2.58 1951 154.30 187.42 5.79 57.10 77.93 2.16 2.67 1952 157.00 200.22 6.01 57.93 79.73 2.33 3.00 1953 159.60 211.87 6.23 58.83 80.33 2.52 3.15 1954 162.40 223.81 6.16 59.58 80.60 1.58 3.00 1955 165.30 237.90 6.57 60.85 80.42 2.18 3.04 1956 168.20 247.28 6.72 62.78 81.55 3.31 3.09 1957 171.30 259.07 6.84 64.95 84.35 3.80 3.68 1958 174.10 273.30 6.81 66.03 86.60 2.46 3.61 1959 177.80 293.33 7.22 67.60 87.45 3.97 4.10 1960 180.70 304.33 7.37 68.73 88.78 3.85 4.55 1961 183.70 324.87 7.57 69.33 89.65 2.97 4.22 1962 186.50 350.14 8.00 70.60 90.75 3.26 4.42 1963 189.20 379.66 8.32 71.70 91.90 3.55 4.16 1964 191.90 409.37 8.76 72.80 93.08 3.97 4.33 1965 194.30 442.50 9.29 74.38 94.60 4.38 4.35 1966 196.60 471.41 9.85 76.78 97.50 5.55 4.75 1967 198.70 503.69 10.11 79.05 100.13 5.10 4.95 1968 200.70 545.38 10.58 82.54 104.38 5.90 5.93 1969 202.70 579.13 10.88 86.80 110.05 7.83 6.54 1970 204.90 603.18 10.86 91.45 116.53 7.71 7.60 1971 207.10 676.38 11.23 96.00 121.45 5.11 7.12 1972 208.80 760.93 11.86 99.98 125.42 4.69 7.01 1973 210.40 836.26 12.54 105.74 133.28 8.15 7.20 1974 213.85 887.21 12.46 115.10 147.95 9.84 7.80 1975 215.97 970.08 12.32 125.75 161.48 6.32 8.35 1976 218.04 1095.69 12.98 132.33 170.80 5.35 8.43 1977 220.24 1234.43 13.70 140.02 181.85 5.60 8.02 1978 222.59 1339.63 14.39 150.35 195.73 7.99 8.73 1979 225.06 1450.35 14.80 163.41 217.75 10.91 9.63 1980 227.66 1566.73 14.75 178.44 247.15 12.29 11.94 1981 230.04 1714.29 15.12 195.61 272.80 14.76 14.17 1982 232.35 1874.30 14.80 207.39 289.60 11.89 13.79 1983 234.54 2108.75 15.81 215.48 298.75 8.89 12.04 1984 237.00 2276.48 16.89 223.36 311.80 10.16 12.71 1985 239.28 2480.59 17.46 230.00 322.88 7.95 11.37 1986 241.60 2686.94 17.93 236.01 329.08 6.50 9.02 1987 243.93 2863.24 18.55 243.48 341.12 6.81 9.91 1988 246.33 3009.43 19.37 251.56 355.05 7.66 10.18 1989 249.41 3125.36 19.86 261.93 372.00 8.99 9.66 NTRWE : NOMINAL TRADE WEIGHTED EXCHANGE RATE RTRWE : REAL TRADE WEIGHTED EXCHANGE RATE NTRWE RTRWE 1880 . . 1881 . . 1882 . . 1883 . . 1884 . . 1885 . . 1886 . . 1887 . . 1888 . . 1889 . . 1890 . . 1891 . . 1892 . . 1893 . . 1894 . . 1895 . . 1896 . . 1897 . . 1898 . . 1899 . . 1900 . . 1901 . . 1902 . . 1903 . . 1904 . . 1905 . . 1906 . . 1907 . . 1908 . . 1909 . . 1910 . . 1911 . . 1912 . . 1913 . . 1914 . . 1915 . . 1916 . . 1917 . . 1918 . . 1919 . . 1920 . . 1921 . . 1922 . . 1923 . . 1924 . . 1925 . . 1926 . . 1927 . . 1928 . . 1929 . . 1930 . . 1931 . . 1932 . . 1933 . . 1934 . . 1935 . . 1936 . . 1937 . . 1938 . . 1939 . . 1940 . . 1941 . . 1942 . . 1943 . . 1944 . . 1945 . . 1946 . . 1947 . . 1948 . . 1949 . . 1950 . . 1951 . . 1952 . . 1953 . . 1954 . . 1955 . . 1956 . . 1957 . . 1958 . . 1959 . . 1960 112.89 139.78 1961 114.34 136.97 1962 116.67 133.79 1963 117.16 130.36 1964 117.19 127.59 1965 117.17 124.40 1966 117.29 123.48 1967 117.41 123.53 1968 118.62 127.08 1969 118.58 128.75 1970 116.52 128.39 1971 113.07 123.04 1972 106.08 111.12 1973 100.14 98.87 1974 101.48 99.19 1975 101.95 93.92 1976 104.70 97.42 1977 104.87 93.28 1978 98.07 84.45 1979 97.15 83.28 1980 97.01 84.97 1981 105.94 100.96 1982 115.60 111.86 1983 119.06 117.49 1984 127.43 129.01 1985 132.18 132.54 1986 112.21 103.83 1987 99.65 91.08 1988 93.88 88.43 1989 96.52 94.96 THE FOLLOWING SERIES WERE USED TO COMPUTE A DEFLATOR MEASURE THAT WAS NECESSARY FOR USE IN A PROGRAM THAT WAS SENSITIVE TO ROUNDING. YR_2 : REAL INCOME Y_2 : NOMINAL INCOME YEAR YR_2 Y_2 1880 137.6 11.06 1881 142.5 11.39 1882 151.6 12.37 1883 155.3 12.24 1884 158.1 11.92 1885 159.3 11.71 1886 164.1 12.06 1887 171.5 12.61 1888 170.7 12.75 1889 181.3 13.57 1890 183.9 13.44 1891 189.9 13.86 1892 198.8 14.33 1893 198.7 14.37 1894 192.9 13.21 1895 215.5 14.53 1896 210.6 14.25 1897 227.8 15.18 1898 233.2 15.74 1899 260.3 17.85 1900 265.4 18.58 1901 297.9 20.97 1902 303.0 21.65 1903 331.7 22.85 1904 323.5 23.93 1905 353.2 26.12 1906 367.7 28.10 1907 362.0 28.88 1908 342.2 26.72 1909 382.1 29.88 1910 383.8 31.24 1911 396.0 32.16 1912 418.9 34.85 1913 435.4 36.56 1914 402.4 34.25 1915 417.3 36.36 1916 485.0 46.02 1917 484.9 55.10 1918 522.2 69.7 1919 507.1 77.22 1920 496.3 87.24 1921 478.8 73.27 1922 513.2 72.99 1923 585.0 85.62 1924 600.5 87.91 1925 614.1 91.49 1926 651.0 97.52 1927 654.6 96.34 1928 666.7 97.32 1929 709.6 103.9 1930 642.8 91.2 1931 588.1 76.4 1932 509.2 58.5 1933 498.5 56 1934 536.7 65.6 1935 580.2 72.8 1936 662.2 83.1 1937 695.3 91.3 1938 664.2 85.4 1939 716.6 91.3 1940 772.9 100.4 1941 909.4 125.5 1942 1080.3 159.0 1943 1276.2 192.7 1944 1380.6 211.4 1945 1354.8 213.4 1946 1096.9 212.4 1947 1066.7 235.2 1948 1108.7 261.6 1949 1109.0 260.4 1950 1203.7 288.3 1951 1328.2 333.4 1952 1380.0 351.6 1953 1435.3 371.6 1954 1416.2 372.5 1955 1494.9 405.9 1956 1525.6 428.2 1957 1551.1 451.0 1958 1539.2 456.8 1959 1629.1 495.8 1960 1665.3 515.3 1961 1708.7 533.8 1962 1799.4 574.6 1963 1873.3 606.9 1964 1973.3 649.8 1965 2087.6 705.1 1966 2208.3 772.0 1967 2271.4 816.4 1968 2365.6 892.7 1969 2423.3 963.9 1970 2416.2 1015.5 1971 2484.8 1102.7 1972 2608.5 1212.8 1973 2744.1 1359.3 1974 2729.3 1472.8 1975 2695.0 1598.4 1976 2926.7 1782.8 1977 2958.6 1990.5 1978 3115.2 2249.7 1979 3192.4 2508.2 1980 3187.1 2732.0 1981 3248.8 3052.6 1982 3166.0 3166.0 1983 3279.1 3405.7 1984 3501.4 3772.2 1985 3618.7 4014.9 1986 3717.9 4231.6 1987 3845.3 4515.6 1988 4016.9 4873.7 1989 4117.7 5200.8 WEIGHTS USED FOR THE G7 COUNTRIES YEAR CANADA FRANCE GERMANY ITALY JAPAN U.K. U.S. 1880 0.021948 0.041446 0.152384 0.085447 0.026136 0.254838 0.41 1881 0.022398 0.043806 0.154398 0.082368 0.025498 0.246345 0.42 1882 0.021858 0.042702 0.147907 0.082953 0.024634 0.242656 0.43 1883 0.022514 0.040921 0.151839 0.080312 0.024631 0.248531 0.43 1884 0.023635 0.039643 0.158833 0.081305 0.025072 0.244654 0.42 1885 0.024634 0.038826 0.161473 0.087513 0.024564 0.240020 0.42 1886 0.025025 0.037900 0.161022 0.089793 0.021968 0.235605 0.42 1887 0.025064 0.037201 0.158857 0.081929 0.021639 0.239969 0.43 1888 0.025361 0.037303 0.167582 0.077116 0.021779 0.239731 0.43 1889 0.024741 0.035299 0.173548 0.075061 0.023238 0.234353 0.43 1890 0.025096 0.035850 0.177018 0.078352 0.027681 0.235969 0.42 1891 0.025250 0.035973 0.166460 0.079236 0.027980 0.238835 0.42 1892 0.025521 0.035975 0.175095 0.070680 0.024040 0.232793 0.43 1893 0.026185 0.035483 0.177615 0.068577 0.022218 0.230858 0.43 1894 0.027616 0.036431 0.183731 0.066750 0.021555 0.247463 0.41 1895 0.026548 0.033283 0.179210 0.068769 0.023306 0.237888 0.43 1896 0.026760 0.032673 0.188764 0.066502 0.024758 0.243783 0.41 1897 0.026092 0.033278 0.191236 0.063308 0.027203 0.235277 0.42 1898 0.025242 0.034187 0.194803 0.065608 0.028452 0.235674 0.41 1899 0.023838 0.032011 0.184699 0.061781 0.028047 0.233653 0.43 1900 0.023478 0.031655 0.181381 0.064286 0.027912 0.235075 0.43 1901 0.024413 0.029092 0.166108 0.063559 0.026999 0.228212 0.46 1902 0.026523 0.027566 0.164982 0.062121 0.027293 0.222772 0.46 1903 0.027280 0.027872 0.169021 0.064898 0.027558 0.211861 0.47 1904 0.027415 0.027136 0.172156 0.062004 0.029459 0.206097 0.47 1905 0.028595 0.026323 0.172101 0.061554 0.028382 0.197417 0.48 1906 0.030198 0.025746 0.169201 0.062403 0.028575 0.191377 0.49 1907 0.030151 0.026593 0.171565 0.067087 0.031100 0.188125 0.48 1908 0.030957 0.027257 0.178466 0.068494 0.032762 0.191282 0.47 1909 0.031609 0.025940 0.172756 0.068486 0.030533 0.183086 0.48 1910 0.032329 0.026348 0.171161 0.065538 0.030467 0.183654 0.49 1911 0.032977 0.027114 0.172234 0.068565 0.033094 0.182416 0.48 1912 0.033506 0.027988 0.172617 0.067063 0.033184 0.175639 0.49 1913 0.034185 0.027122 0.168306 0.065874 0.033365 0.178323 0.49 1914 . . . . . . . 1915 . . . . . . . 1916 . . . . . . . 1917 . . . . . . . 1918 . . . . . . . 1919 . . . . . . . 1920 . . . . . . . 1921 . . . . . . . 1922 . . . . . . . 1923 . . . . . . . 1924 0.024880 0.188850 0.088987 0.035749 0.038847 0.117212 0.50 1925 0.025815 0.211266 0.084427 0.037690 0.035112 0.123974 0.48 1926 0.022623 0.316516 0.068530 0.032271 0.032393 0.098950 0.42 1927 0.025347 0.268276 0.087117 0.037509 0.035136 0.107502 0.43 1928 0.026592 0.280491 0.088169 0.037984 0.033679 0.104890 0.42 1929 0.025578 0.289513 0.079492 0.035928 0.031721 0.101384 0.43 1930 0.025917 0.308861 0.077864 0.034222 0.030928 0.108162 0.41 1931 0.023619 0.335962 0.072600 0.033932 0.027440 0.107173 0.39 1932 0.021418 0.368396 0.076888 0.038305 0.023695 0.098402 0.37 1933 0.021365 0.299587 0.111030 0.046710 0.024546 0.124342 0.37 1934 0.024640 0.183360 0.158205 0.057260 0.028357 0.144961 0.40 1935 0.024591 0.168016 0.166190 0.057462 0.027345 0.138073 0.41 1936 0.023629 0.188376 0.162468 0.045634 0.026347 0.129397 0.42 1937 0.021758 0.277625 0.146492 0.034239 0.028082 0.112766 0.37 1938 0.018150 0.395825 0.136298 0.030241 0.026099 0.097609 0.29 1939 . . . . . . . 1940 . . . . . . . 1941 . . . . . . . 1942 . . . . . . . 1943 . . . . . . . 1944 . . . . . . . 1945 . . . . . . . 1946 . . . . . . . 1947 . . . . . . . 1948 . . . . . . . 1949 . . . . . . . 1950 0.039420 0.068729 0.055620 0.034715 0.035834 0.089082 0.67 1951 0.042236 0.072295 0.058601 0.035377 0.033949 0.085053 0.67 1952 0.047913 0.079435 0.062133 0.035413 0.033109 0.084938 0.65 1953 0.047233 0.078092 0.062977 0.036926 0.035262 0.085986 0.65 1954 0.046912 0.080989 0.066400 0.038517 0.038346 0.088931 0.63 1955 0.046683 0.079458 0.069522 0.038889 0.038688 0.087219 0.63 1956 0.049059 0.082383 0.071416 0.039536 0.040726 0.088198 0.62 1957 0.049503 0.083536 0.073069 0.039985 0.043648 0.087830 0.62 1958 0.049621 0.080853 0.076337 0.041986 0.044384 0.089576 0.61 1959 0.049806 0.071643 0.077356 0.041755 0.046588 0.088100 0.62 1960 0.047199 0.072236 0.086107 0.044483 0.051440 0.086945 0.61 1961 0.044503 0.074060 0.092416 0.046510 0.059697 0.087280 0.59 1962 0.042365 0.076635 0.093781 0.048325 0.061224 0.084836 0.59 1963 0.041950 0.080139 0.092660 0.051595 0.065868 0.084300 0.58 1964 0.042251 0.081764 0.093652 0.051978 0.071417 0.084455 0.57 1965 0.042806 0.080869 0.094057 0.051466 0.074437 0.083423 0.57 1966 0.043778 0.079902 0.091375 0.051005 0.079001 0.081158 0.57 1967 0.044013 0.080985 0.086790 0.052647 0.086847 0.079594 0.56 1968 0.044320 0.080940 0.086166 0.052551 0.094739 0.068736 0.57 1969 0.044585 0.079982 0.089269 0.052960 0.101700 0.067203 0.56 1970 0.045274 0.077651 0.099742 0.054603 0.109900 0.067761 0.54 1971 0.046123 0.078233 0.104574 0.057688 0.112207 0.069381 0.53 1972 0.045668 0.083186 0.108965 0.058200 0.128577 0.068490 0.50 1973 0.044347 0.090097 0.121129 0.058836 0.146176 0.065342 0.47 1974 0.049324 0.087527 0.122465 0.060469 0.147665 0.064739 0.46 1975 0.048045 0.099231 0.120700 0.061349 0.144371 0.069139 0.45 1976 0.052362 0.094812 0.118316 0.055758 0.149047 0.061802 0.46 1977 0.047045 0.091862 0.120984 0.057014 0.162067 0.060106 0.46 1978 0.040137 0.094258 0.124325 0.057991 0.188782 0.063340 0.43 1979 0.039254 0.100108 0.129875 0.064102 0.173070 0.072240 0.42 1980 0.039880 0.103240 0.125592 0.070205 0.163458 0.083250 0.41 1981 0.043247 0.088042 0.102569 0.061220 0.175181 0.078360 0.45 1982 0.044481 0.083672 0.099886 0.060829 0.164244 0.074407 0.47 1983 0.046212 0.075967 0.094788 0.060033 0.170706 0.067340 0.48 1984 0.045730 0.068546 0.084728 0.056637 0.172518 0.060307 0.51 1985 0.044234 0.068144 0.080999 0.055167 0.173258 0.060473 0.51 1986 0.037755 0.078412 0.095600 0.064014 0.211279 0.060923 0.45 1987 0.037507 0.082474 0.104002 0.069745 0.222534 0.064743 0.41 1988 0.039461 0.079592 0.100093 0.068645 0.238771 0.069725 0.40 1989 0.042660 0.077183 0.095980 0.068909 0.228577 0.067373 0.41 WEIGHTS USED FOR THE G4 COUNTRIES YEAR CANADA ITALY U.K. U.S. 1880 0.028137 0.109542 0.326701 0.535619 1881 0.028852 0.106104 0.317333 0.547711 1882 0.027854 0.105706 0.309212 0.557229 1883 0.028768 0.102621 0.317567 0.551044 1884 0.030439 0.104713 0.315092 0.549756 1885 0.031780 0.112900 0.309649 0.545671 1886 0.032119 0.115250 0.302402 0.550229 1887 0.032039 0.104728 0.306747 0.556487 1888 0.032794 0.099718 0.309996 0.557493 1889 0.032218 0.097747 0.305180 0.564855 1890 0.033045 0.103170 0.310710 0.553076 1891 0.032810 0.102959 0.310342 0.553890 1892 0.033366 0.092405 0.304349 0.569881 1893 0.034243 0.089680 0.301900 0.574178 1894 0.036420 0.088027 0.326346 0.549207 1895 0.034740 0.089988 0.311289 0.563983 1896 0.035500 0.088222 0.323404 0.552874 1897 0.034869 0.084604 0.314423 0.566104 1898 0.033994 0.088355 0.317381 0.560271 1899 0.031563 0.081803 0.309375 0.577258 1900 0.030930 0.084693 0.309695 0.574682 1901 0.031387 0.081716 0.293407 0.593491 1902 0.033996 0.079625 0.285546 0.600832 1903 0.035174 0.083680 0.273175 0.607970 1904 0.035546 0.080395 0.267225 0.616834 1905 0.036983 0.079610 0.255326 0.628080 1906 0.038892 0.080367 0.246468 0.634273 1907 0.039120 0.087042 0.244083 0.629755 1908 0.040652 0.089944 0.251186 0.618218 1909 0.041009 0.088854 0.237536 0.632601 1910 0.041875 0.084891 0.237886 0.635348 1911 0.042963 0.089329 0.237658 0.630050 1912 0.043729 0.087526 0.229231 0.639514 1913 0.044327 0.085417 0.231226 0.639031 1914 0.041096 0.068493 0.205479 0.684932 1915 0.041096 0.068493 0.205479 0.684932 1916 0.041096 0.068493 0.205479 0.684932 1917 0.041096 0.068493 0.205479 0.684932 1918 0.041096 0.068493 0.205479 0.684932 1919 0.041096 0.068493 0.205479 0.684932 1920 0.041096 0.068493 0.205479 0.684932 1921 0.041096 0.068493 0.205479 0.684932 1922 0.041096 0.068493 0.205479 0.684932 1923 0.041096 0.068493 0.205479 0.684932 1924 0.036411 0.052318 0.171533 0.739738 1925 0.038577 0.056321 0.185258 0.719844 1926 0.038833 0.055395 0.169853 0.735919 1927 0.041588 0.061543 0.176386 0.720483 1928 0.044494 0.063554 0.175502 0.716450 1929 0.042681 0.059953 0.169178 0.728188 1930 0.044504 0.058766 0.185734 0.710996 1931 0.041877 0.060162 0.190024 0.707936 1932 0.040334 0.072134 0.185307 0.702224 1933 0.037825 0.082697 0.220137 0.659340 1934 0.039106 0.090877 0.230069 0.639948 1935 0.038516 0.090002 0.216263 0.655218 1936 0.037939 0.073271 0.207763 0.681027 1937 0.039719 0.062503 0.205852 0.691925 1938 0.041083 0.068454 0.220945 0.669518 1939 0.031250 0.046875 0.140625 0.781250 1940 0.031250 0.046875 0.140625 0.781250 1941 0.031250 0.046875 0.140625 0.781250 1942 0.031250 0.046875 0.140625 0.781250 1943 0.031250 0.046875 0.140625 0.781250 1944 0.031250 0.046875 0.140625 0.781250 1945 0.031250 0.046875 0.140625 0.781250 1946 0.031250 0.046875 0.140625 0.781250 1947 0.031250 0.046875 0.140625 0.781250 1948 0.031250 0.046875 0.140625 0.781250 1949 0.031250 0.046875 0.140625 0.781250 1950 0.046938 0.041336 0.106073 0.805653 1951 0.050573 0.042360 0.101841 0.805227 1952 0.058053 0.042908 0.102915 0.796124 1953 0.057345 0.044831 0.104394 0.793431 1954 0.057613 0.047303 0.109217 0.785868 1955 0.057468 0.047874 0.107369 0.787290 1956 0.060907 0.049084 0.109499 0.780510 1957 0.061898 0.049997 0.109823 0.778282 1958 0.062148 0.052586 0.112190 0.773075 1959 0.061915 0.051907 0.109521 0.776656 1960 0.059729 0.056292 0.110027 0.773952 1961 0.057510 0.060104 0.112790 0.769597 1962 0.055136 0.062894 0.110411 0.771559 1963 0.055101 0.067769 0.110727 0.766403 1964 0.056098 0.069013 0.112133 0.762756 1965 0.057026 0.068563 0.111136 0.763276 1966 0.058393 0.068032 0.108251 0.765324 1967 0.059048 0.070632 0.106784 0.763536 1968 0.060042 0.071192 0.093119 0.775647 1969 0.061155 0.072642 0.092178 0.774025 1970 0.063524 0.076614 0.095075 0.764787 1971 0.065424 0.081829 0.098415 0.754332 1972 0.067231 0.085680 0.100828 0.746261 1973 0.069012 0.091560 0.101685 0.737743 1974 0.076788 0.094139 0.100785 0.728288 1975 0.075578 0.096506 0.108761 0.719154 1976 0.082095 0.087420 0.096896 0.733590 1977 0.075262 0.091210 0.096156 0.737372 1978 0.067726 0.097854 0.106878 0.727542 1979 0.065758 0.107383 0.121016 0.705844 1980 0.065623 0.115524 0.136989 0.681864 1981 0.068191 0.096529 0.123555 0.711725 1982 0.068202 0.093268 0.114087 0.724443 1983 0.070174 0.091161 0.102256 0.736409 1984 0.067827 0.084005 0.089449 0.758719 1985 0.065281 0.081415 0.089246 0.764059 1986 0.061420 0.104138 0.099108 0.735334 1987 0.063464 0.118013 0.109551 0.708972 1988 0.067855 0.118039 0.119896 0.694210 1989 0.071307 0.115183 0.112615 0.700895 DATA USED FOR FIGURE 14 a: U.S. monetary gold stock b: U.S. external liabilities c: U.S. external liabilities to monetary authorities d: Rest of the World Monetary Gold Stock 1945 20.08 1.e-37 1.e-37 13.20 1946 20.71 1.e-37 1.e-37 12.91 1947 22.87 1.e-37 1.e-37 11.21 1948 24.40 1.e-37 1.e-37 10.12 1949 24.56 6.94 3.36 10.42 1950 22.82 8.89 4.89 12.48 1951 22.87 8.85 4.16 12.69 1952 23.25 10.43 5.56 12.54 1953 22.09 11.36 6.47 14.16 1954 21.79 12.45 7.52 15.12 1955 21.75 13.52 8.26 15.84 1956 22.06 14.90 9.15 16.02 1957 22.86 15.83 9.14 15.91 1958 20.58 16.85 9.65 18.86 1959 19.51 19.43 10.12 20.68 1960 17.80 21.03 11.09 22.73 1961 16.95 22.94 11.83 24.17 1962 16.06 24.27 12.71 25.42 1963 15.60 26.39 14.42 26.70 1964 15.47 29.36 15.79 27.55 1965 14.07 29.57 15.83 29.16 1966 13.24 31.02 14.90 29.98 1967 12.07 35.67 18.19 29.53 1968 10.89 38.47 17.34 30.02 1969 11.86 45.91 16.00 29.15 1970 11.07 46.96 23.33 30.21 1971 11.08 67.81 50.65 29.83 DATA USED FOR FIGURE 15 United States 1: Current Account 2: Long-term Capital 3: Short-term Capital 4: Reserves (1) (2) (3) (4) 1950 -1943 -1489 173 -1759 1951 761 -1478 894 34 1952 510 -2109 1067 415 1953 -1405 -1203 1090 -1256 1954 106 -1160 176 -480 1955 298 -1779 341 -182 1956 2577 -3598 1146 669 1957 4617 -5066 1280 1165 1958 657 -4312 1378 -2292 1959 -1434 -2798 99 -1335 1960 2824 -3962 -2268 -2145 1961 3821 -3480 -1703 -606 1962 3388 -4874 -1165 -1533 1963 4414 -5638 -693 -377 1964 6822 -7187 -1168 -171 1965 5435 -7358 633 -1222 1966 3034 -6079 3265 -568 1967 2587 -6508 629 -52 1968 621 -2750 4033 880 1969 406 -4212 6594 1187 1970 2360 -6251 -6810 -2477 1971 -1407 -9105 -20032 -2348 DATA USED FOR FIGURE 16 G7 countries Gold Total Real Real Reserves Reserves Trade Income 1950 27.190 31.880 54404 2202.4 1951 26.850 31.480 62803 2336.5 1952 26.700 32.260 61710 2429.6 1953 26.640 32.380 64409 2544.9 1954 27.090 33.790 67448 2590.5 1955 27.130 34.420 75649 2787.1 1956 27.710 36.040 83850 2885.9 1957 29.110 37.190 87507 2968.5 1958 28.960 37.890 85098 2988.0 1959 28.900 37.440 94324 3173.6 1960 28.550 39.580 105243 3330.0 1961 28.460 40.360 111740 3468.2 1962 28.150 40.180 119690 3649.1 1963 28.560 40.840 128844 3827.3 1964 29.020 41.330 141738 4064.5 1965 29.340 42.220 153950 4274.3 1966 28.500 42.480 168123 4509.8 1967 26.580 42.880 174851 4680.2 1968 24.920 43.570 200473 4945.0 1969 25.100 42.260 224708 5192.6 1970 24.160 50.790 247756 5350.9 1971 23.730 75.630 280527 5527.0 1972 24.250 83.010 310816 5791.6 1973 27.280 87.220 361447 6137.4 DATA USED FOR FIGURE 17 G7 minus the United States Gold Total Real Real Reserves Reserves Trade Income 1950 4.370 7.610 35138 882.9 1951 3.980 7.180 41763 943.2 1952 3.450 7.550 41033 991.3 1953 4.550 8.920 43884 1047.6 1954 5.300 10.810 47002 1096.4 1955 5.380 11.620 53005 1179.2 1956 5.650 12.370 58141 1241.1 1957 6.250 12.360 60110 1297.9 1958 8.380 15.350 59622 1335.5 1959 9.390 15.930 66537 1417.3 1960 10.750 20.220 75708 1526.4 1961 11.510 21.610 82133 1624.9 1962 12.090 22.960 87484 1705.7 1963 12.960 24.000 94833 1803.0 1964 13.550 24.660 104249 1927.9 1965 15.270 26.770 114090 2006.7 1966 15.260 27.600 123852 2114.5 1967 14.510 28.050 128967 2219.8 1968 14.030 27.860 147380 2375.7 1969 13.240 25.300 168648 2548.3 1970 13.090 36.300 188350 2701.0 1971 13.520 63.310 218949 2794.0 1972 13.760 69.860 241957 2927.5 1973 15.630 72.840 283149 3129.5 DATA USED FOR FIGURE 18 London Price of Gold 1954 1 . 2 . 3 34.98 4 35.08 5 35.06 6 35.09 7 35.11 8 35.07 9 35.08 10 35.10 11 35.04 12 35.04 1955 1 35.04 2 35.04 3 35.07 4 35.06 5 35.05 6 35.06 7 35.04 8 35.02 9 34.97 10 34.98 11 35.00 12 34.99 1956 1 34.99 2 34.99 3 34.98 4 35.00 5 35.00 6 34.99 7 35.09 8 35.00 9 35.03 10 35.08 11 34.94 12 34.92 1957 1 34.88 2 34.90 3 34.93 4 34.93 5 34.96 6 34.99 7 35.01 8 34.97 9 34.99 10 34.96 11 34.99 12 35.02 1958 1 35.10 2 35.12 3 35.11 4 35.12 5 35.14 6 35.09 7 35.12 8 35.13 9 35.13 10 35.11 11 35.11 12 35.09 1959 1 35.04 2 35.06 3 35.09 4 35.11 5 35.12 6 35.13 7 35.14 8 35.12 9 35.15 10 35.08 11 35.07 12 35.10 1960 1 35.13 2 35.09 3 35.13 4 35.12 5 35.10 6 35.11 7 35.14 8 35.17 9 35.25 10 36.05 11 35.64 12 35.60 1961 1 35.39 2 35.09 3 35.10 4 35.09 5 35.08 6 35.10 7 35.16 8 35.22 9 35.20 10 35.21 11 35.15 12 35.16 1962 1 35.17 2 35.09 3 35.09 4 35.09 5 35.09 6 35.12 7 35.12 8 35.13 9 35.14 10 35.12 11 35.09 12 35.07 1963 1 35.09 2 35.08 3 35.12 4 35.09 5 35.09 6 35.09 7 35.12 8 35.12 9 35.07 10 35.11 11 35.09 12 35.08 1964 1 35.09 2 35.09 3 35.09 4 35.10 5 35.09 6 35.08 7 35.09 8 35.09 9 35.11 10 35.13 11 35.11 12 35.13 1965 1 35.15 2 35.18 3 35.14 4 35.11 5 35.10 6 35.11 7 35.18 8 35.13 9 35.17 10 35.13 11 35.12 12 35.12 1966 1 35.18 2 35.18 3 35.15 4 35.14 5 35.15 6 35.05 7 35.19 8 35.19 9 35.20 10 35.16 11 35.19 12 35.20 1967 1 35.20 2 35.16 3 35.19 4 35.19 5 35.18 6 35.20 7 35.20 8 35.18 9 35.21 10 35.20 11 35.21 12 35.20 1968 1 35.20 2 35.20 3 35.20 4 37.90 5 40.70 6 41.10 7 39.50 8 39.20 9 40.20 10 39.20 11 39.80 12 41.10 1969 1 42.30 2 42.60 3 43.20 4 43.30 5 43.46 6 41.44 7 41.76 8 41.09 9 40.87 10 40.44 11 37.40 12 35.17 1970 1 34.94 2 34.99 3 35.09 4 35.62 5 35.95 6 35.44 7 35.32 8 35.38 9 36.19 10 37.52 11 37.44 12 37.44 1971 1 37.87 2 38.74 3 38.87 4 39.01 5 40.52 6 40.10 7 40.95 8 42.73 9 42.02 10 42.50 11 42.86 12 43.48 DATA USED FOR FIGURE 20 AND 21 M1US M1UK M1WG M1FR M1IT M1CA 1950 115.30 5.5400 16.800 31.290 2568.0 4.3300 1951 122.80 5.6520 19.100 36.950 2983.0 4.3800 1952 129.20 5.6740 21.100 41.880 3452.0 4.6600 1953 130.80 5.8530 23.200 46.580 3817.0 4.5600 1954 134.90 6.0770 26.400 52.980 4134.0 4.9200 1955 138.00 6.0100 29.100 59.690 4519.0 5.2500 1956 139.40 6.0410 30.800 65.850 4883.0 5.1900 1957 138.20 5.9440 34.400 71.370 5132.0 5.4000 1958 144.50 6.0940 39.000 74.580 5681.0 6.0800 1959 144.90 6.5980 43.700 83.110 6481.0 5.8900 1960 145.60 6.6270 47.500 95.000 7312.0 5.9900 1961 150.60 6.7610 54.400 110.00 8493.0 6.7400 1962 152.90 7.0840 58.100 130.00 10077 7.0300 1963 159.30 7.3220 62.300 148.00 11453 7.5300 1964 166.60 7.5570 67.600 161.00 12339 8.2500 1965 174.50 7.8480 72.800 176.00 14340 9.4300 1966 178.70 7.8440 74.200 189.00 16262 10.130 1967 190.30 8.4420 81.600 198.00 18787 11.700 1968 204.30 8.7840 90.600 214.00 21078 15.970 1969 211.00 8.8120 95.400 210.00 24457 15.300 1970 222.30 9.6350 103.70 232.00 31330 15.570 1971 236.90 11.107 116.90 260.00 37160 17.610 1972 258.90 12.660 133.40 299.00 44223 19.770 1973 272.40 13.300 135.70 328.00 54949 21.50 M1JP EUK EGE EFR EIT ECA 1950 802.00 0.35714 4.2000 3.4990 624.82 1.0600 1951 1057.0 0.35940 4.2000 3.5000 624.91 1.0169 1952 1287.0 0.35587 4.2000 3.5000 624.92 0.97060 1953 1677.0 0.35572 4.2000 3.5000 624.84 0.97440 1954 1737.0 0.35907 4.2000 3.5000 624.90 0.96630 1955 1958.0 0.35666 4.2150 3.5000 624.85 0.99910 1956 2341.0 0.35899 4.1990 3.5000 624.97 0.95970 1957 2419.0 0.34972 4.2020 4.1990 624.89 0.98470 1958 2700.0 0.35682 4.1780 4.9060 624.00 0.96410 1959 3102.0 0.35714 4.1700 4.9090 620.60 0.95280 1960 4146.0 0.35666 4.1710 4.9030 620.60 0.99600 1961 4909.0 0.35611 3.9960 4.9000 620.60 1.0430 1962 5725.0 0.35682 3.9980 4.9000 620.60 1.0778 1963 7702.0 0.35754 3.9750 4.9020 622.38 1.0809 1964 8704.0 0.35842 3.9770 4.9000 624.80 1.0741 1965 10287 0.35682 4.0060 4.9020 624.70 1.0750 1966 11716 0.35842 3.9770 4.9520 624.45 1.0838 1967 13369 0.41547 3.9990 4.9080 623.86 1.0809 1968 15155 0.41939 4.0000 4.9480 623.50 1.0728 1969 18282 0.41656 3.6900 5.5580 625.50 1.0731 1970 21360 0.41775 3.6480 5.5200 623.00 1.0103 1971 27693 0.39177 3.2680 5.2240 594.00 1.0022 1972 34526 0.42588 3.2015 5.1210 582.40 0.99560 1973 40311 0.43044 2.7030 4.7085 607.90 0.99580 EJP 1950 361.10 1951 361.10 1952 361.10 1953 360.80 1954 360.80 1955 360.80 1956 360.80 1957 359.70 1958 359.70 1959 359.20 1960 358.30 1961 361.80 1962 358.20 1963 362.00 1964 358.30 1965 360.90 1966 362.50 1967 361.90 1968 357.70 1969 357.80 1970 357.60 1971 314.80 1972 302.00 1973 280.00 DP.DAT FILE YEAR CANADA FRANCE GERMANY ITALY JAPAN U.K. U.S. 1880 . . . . . . 0.05 1881 -0.000539 -0.018123 0.024069 -0.031177 . 0.041848 -0.00 1882 -0.001080 0.002337 0.016510 0.015771 . 0.024292 0.02 1883 -0.000540 -0.067577 -0.039361 -0.038950 . -0.066140 -0.03 1884 0.000270 -0.043051 -0.007326 -0.026109 . -0.017242 -0.04 1885 0.000270 -0.015023 -0.021053 0.045381 . -0.017544 -0.02 1886 -0.000810 0.121085 -0.018952 0.006800 -0.064179 0.008811 -0.00 1887 -0.006778 -0.123877 0.001275 -0.059805 -0.041687 -0.008811 0.00 1888 0.005426 0.038975 0.021425 -0.007773 0.036523 0.051737 0.01 1889 -0.000812 0.003465 0.068660 0.061089 0.035309 0.049190 0.00 1890 -0.000813 -0.018943 -0.007009 0.008218 0.129822 0.015874 -0.02 1891 -0.004073 0.006781 -0.011793 0.020014 -0.017583 -0.048397 -0.00 1892 -0.004363 -0.027084 0.005914 -0.043506 0.004457 -0.016667 -0.01 1893 -0.004932 -0.033322 -0.063282 -0.018136 0.008727 0.008368 0.00 1894 -0.004128 -0.058821 0.013724 -0.032532 0.067561 0.016529 -0.05 1895 -0.004699 -0.004828 -0.025095 0.023660 0.089725 -0.008231 -0.01 1896 -0.004165 -0.039187 0.026334 -0.014672 0.075472 -0.025106 0.00 1897 -0.003903 0.095743 0.023243 0.014985 0.171259 0.033336 -0.01 1898 -0.005602 -0.009440 0.019162 0.047732 0.078480 2.38E-07 0.01 1899 -0.005634 0.052937 0.022288 -0.001020 -0.013539 -4.77E-07 0.01 1900 -0.002829 0.021113 0.031966 0.019634 0.055776 0.048010 0.02 1901 0.025176 -0.016600 -0.019286 -0.032723 -0.007780 -0.056240 0.00 1902 0.019152 -0.033428 -0.009206 -0.015372 0.038309 0.008231 0.01 1903 0.008097 0.028407 -0.009292 0.034777 0.056041 -0.016530 0.02 1904 -0.005391 -0.069280 0.002331 -0.004927 0.011787 -0.016807 0.00 1905 0.002699 0.049825 0.043287 0.011375 0.065703 0.025106 -0.00 1906 0.047377 0.012413 0.022052 0.065243 0.071915 0.032523 0.03 1907 0.030382 0.050668 0.015152 0.022822 0.087867 0.046884 0.04 1908 0.014852 -0.031675 -0.018429 -0.017016 -0.020779 -0.015385 -0.02 1909 -0.012361 -0.002657 0.021646 0.013150 -0.021220 -0.015626 0.00 1910 0.019705 0.050292 0.032652 0.076032 -0.023664 0.007844 0.04 1911 0.007290 0.029107 0.004137 0.014928 0.116679 0.015504 -0.00 1912 0.030992 0.011603 0.024466 0.027936 0.066960 0.052446 0.02 1913 0.020907 0.008792 0.007025 0.010004 0.040695 -0.022141 0.00 1914 0.036121 . . -0.037948 -0.064203 0.007435 0.01 1915 0.068549 . . 0.095214 -0.005139 0.029199 0.02 1916 0.102250 . . 0.291419 0.129691 0.171472 0.08 1917 0.202368 . . 0.320059 0.248641 0.202322 0.18 1918 0.059277 . . 0.251509 0.237553 0.213193 0.16 1919 0.095964 . . 0.206702 0.218149 0.162119 0.13 1920 0.119380 . . 0.364481 0.032864 0.227217 0.14 1921 -0.102529 . . -0.027318 -0.127805 -0.123899 -0.13 1922 -0.088648 -0.151673 . 0.009270 0.071657 -0.177425 -0.07 1923 -0.021293 0.031226 . 0.042048 0.004548 -0.084019 0.02 1924 -0.004313 -0.003641 . 0.053873 -0.075381 0.007937 0.00 1925 0.032604 0.091787 . 0.166417 0.073109 0.015686 0.01 1926 -0.050046 0.162433 -0.021824 0.042038 -0.025331 -0.007813 0.00 1927 -0.010317 0.017837 0.075378 -0.141552 -0.013308 -0.011835 -0.01 1928 -0.005944 0.053681 0.026703 -0.079064 -0.050094 -0.016000 -0.00 1929 0.011852 -0.062113 -0.011636 -0.019936 -0.017547 0.012024 0.00 1930 -0.025356 0.043639 -0.053417 -0.055940 -0.144473 -0.012024 -0.03 1931 -0.063934 0.043435 -0.090384 -0.123843 -0.133694 -0.041158 -0.08 1932 -0.152810 -0.099552 -0.091115 -0.100640 0.031717 -0.029853 -0.12 1933 0.036837 -0.037448 -0.014913 -0.073028 0.053366 0.008621 -0.02 1934 0.014363 -0.063816 0.034458 -0.000226 -0.013043 -0.004301 0.08 1935 0.003559 0.028271 -0.009725 0.009303 0.041716 0.004301 0.02 1936 0.031471 0.128957 -0.029754 0.068541 0.030614 0.025425 0.00 1937 0.025490 0.130952 0.007522 0.128572 0.062109 0.016597 0.04 1938 0.000000 0.157629 0.003325 0.066120 0.101152 0.012271 -0.02 1939 -0.008425 . . 0.031311 0.202618 -1.19E-07 -0.00 1940 0.046289 . . 0.187487 0.236232 -0.028868 0.01 1941 0.074685 . . 0.169827 0.114747 0.136665 0.06 1942 0.043995 . . 0.255127 0.178793 0.093982 0.06 1943 0.033854 . . 0.400574 0.162587 0.042283 0.02 1944 0.031402 . . 0.884702 0.188866 0.076607 0.01 1945 0.025217 . . 0.818997 . 0.090202 0.02 1946 0.028426 . . 0.424572 . 0.002692 0.20 1947 0.084248 . . 0.576806 . 0.084993 0.12 1948 0.115960 . . 0.134684 . 0.069158 0.06 1949 0.041864 . . 0.004631 . 0.042847 -0.00 1950 0.023716 0.065867 . 0.036287 . 0.004405 0.01 1951 0.107312 0.140797 0.172691 0.109540 0.220894 0.065911 0.04 1952 0.043765 0.125125 0.016000 0.026542 -0.000129 0.082887 0.01 1953 -0.001681 0.011376 -0.043250 0.018273 0.059258 0.015038 0.01 1954 0.015854 0.009827 0.000000 0.019045 0.046752 0.038431 0.01 1955 0.005778 0.016627 0.019152 0.030860 0.011803 0.033542 0.03 1956 0.040328 0.036037 0.032003 0.040519 0.050010 0.060625 0.03 1957 0.016465 0.064850 0.028463 0.024686 0.058751 0.040037 0.03 1958 0.014666 0.109770 0.035091 0.004445 -0.015777 0.046021 0.02 1959 0.019728 0.065102 0.012240 -0.010145 0.029941 0.019302 0.02 1960 0.012691 0.050712 0.007273 0.021770 0.055639 0.017494 0.01 1961 0.003702 0.031145 0.047179 0.022341 0.075777 0.032696 0.00 1962 0.013945 0.041959 0.038423 0.052143 0.035312 0.033015 0.02 1963 0.011594 0.101909 0.030570 0.074157 0.043985 0.022743 0.01 1964 0.031209 0.050095 0.029663 0.058327 0.043293 0.024822 0.01 1965 0.032294 0.040173 0.036889 0.032251 0.049677 0.041699 0.02 1966 0.043010 0.034470 0.031686 0.020708 0.049928 0.038840 0.03 1967 0.039371 0.026950 0.013553 0.025553 0.059847 0.029328 0.02 1968 0.031865 0.045952 0.020933 0.002318 0.051910 0.034094 0.04 1969 0.043087 0.145519 0.042403 0.043194 0.048500 0.035130 0.05 1970 0.045180 0.065812 0.073076 0.057578 0.073955 0.075802 0.05 1971 0.031524 0.056045 0.077458 0.148805 0.054178 0.098034 0.05 1972 0.049070 0.060085 0.045531 0.047049 0.054835 0.096710 0.04 1973 0.087266 0.074922 0.