Discussion Papers no. 365, 2007
A method for improved capital measurement by combining accounts and firm investment data
We propose a new method for estimating capital stocks at the firm level by combining business accounts information and investment data. The method also produces capital estimates at the sector or industry level by summing individual firms' capital stocks and appropriately inflating this sum to account for firms with missing data. Our approach has two major advantages compared with the much used Perpetual Inventory Method (PIM). First, long investment series are not necessary. Second, sector capital estimates are automatically adjusted for changes in the capital stock because of entry and exit of firms. While capital growth rates in Norwegian manufacturing were only 1 percent on average during 1993--2004 according to national accounts figures, our method yields much higher growth rates of 5.5 percent on average.
Om publikasjonen
- Tittel
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A method for improved capital measurement by combining accounts and firm investment data
- Ansvarlige
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Arvid Raknerud, Dag Rønningen, Terje Skjerpen
- Serie og -nummer
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Discussion Papers no. 365, 2007
- Utgiver
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Statistics Norway
- Emne
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Discussion Papers
- Antall sider
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36
- Målform
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Engelsk
- Om Discussion Papers
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Discussion papers comprise research papers intended for international journals and books. A preprint of a Discussion Paper may be longer and more elaborate than a standard journal article as it may include intermediate calculations, background material etc.
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