The Current Dollar Estimates Were Derived By Multiplying Goldsmith'S Construction Estimates By The Ratio Of Expenditures For Alterations And Additions To Expenditures For New Residential Contruction. This Ratio Is Extrapolated Back From 1920-30 (Estimated At 10 Per Cent On The Basis Of Department Of Commerce Estimates) By An Index Of The Movement Of The Ratio In Long'S Estimates. See Clarence D. Long, Jr.,"Building Cycles And The Theory Of Investment," (Princeton University Press, 1940). See Also Introductory Notes On Long'S Indexes. Source: Raymond W. Goldsmith, "A Study Of Saving In The United States, " Vol. I, Princeton, 1955, Table R-4, P. 587; R-5, P. 588; And R-31, P. 623.
This NBER data series a02271 appears on the NBER website in Chapter 2 at http://www.nber.org/databases/macrohistory/contents/chapter02.html.
NBER Indicator: a02271
Release: NBER Macrohistory Database
National Bureau of Economic Research, Expenditures For Additions and Alterations, One To Four-Family Nonfarm Dwellings for United States [A02271USA398NNBR], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/A02271USA398NNBR/, July 30, 2015.