The Measurement of CapitalDan Usher How is real capital measured by government statistical agencies? How could this measure be improved to correspond more closely to an economist's ideal measure of capital in economic analysis and prediction? It is possible to construct a single, reliable time series for all capital goods, regardless of differences in vintage, technological complexity, and rates of depreciation? These questions represent the common themes of this collection of papers, originally presented at a 1976 meeting of the Conference on Income and Wealth. |
Contents
| 1 | |
1 Estimation of Capital Stock in the United States | 23 |
2 Economic Depreciation and the Taxation of Structures in United States Manufacturing Industries An Empirical Analysis | 83 |
3 Alternative Measures of Capital and Its Rate of Return in United States Manufacturing | 121 |
4 New Books on the Measurement of Capital | 153 |
5 Capital Gains and Income Real Changes in the Value of Capital in the United States 194677 | 175 |
6 Measurement of Income and Product in the Oil and Gas Mining Industries | 347 |
7 The Measurement of Capital Aggregates A Postreswitching Problem | 377 |
8 Aggregation Problems in the Measurement of Capital | 433 |
List of Contributors | 539 |
| 541 | |
| 545 | |
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Common terms and phrases
accounts acquisition aggregation problem aggregator function analysis approximation assets assume assumption billion Bureau of Economic calculated capi capital accumulation capital aggregate capital gains capital services capital stock components constant corporate current dollars current-cost decline defined Diewert Divisia Divisia index durable economic depreciation equation equipment expenditures factor firm functional form Gross Revaluations household human capital industry inflation inputs isoquants Jorgenson K-FED Kendrick labor liabilities Means measure of capital ment micro net investment net revaluations NIPA nomic noncorporate Nonhuman Capital oil and gas output period perpetual inventory preciation present value price and quantity price index problem production function quantity index rate of return ratio real capital rental returns to scale revenue sector service lives straight-line depreciation structures Sums superlative index Table tangible tax depreciation technical change theorem theory tion Törnqvist Total translog United variable profit function vintage wealth