The Measurement of Capital

The Measurement of Capital PDF

Author: Dan Usher

Publisher: University of Chicago Press

Published: 2008-04-15

Total Pages: 570

ISBN-13: 0226843025

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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.

The Measurement of Capital

The Measurement of Capital PDF

Author: Michael Ward

Publisher: Organisation for Economic Co-operation and Development ; [Washington, D.C. : sold by OECD Publications Center]

Published: 1976

Total Pages: 160

ISBN-13:

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This report is concerned with the practical problem of what is to be measured by the concept of capital and how it should be measured in different economic contexts. It includes a review and critique of existing series and estimation procedures.

Measuring Capital -- OECD Manual Measurement of Capital Stocks, Consumption of Fixed Capital and Capital Services

Measuring Capital -- OECD Manual Measurement of Capital Stocks, Consumption of Fixed Capital and Capital Services PDF

Author: OECD

Publisher: OECD Publishing

Published: 2001-06-15

Total Pages: 134

ISBN-13: 926419326X

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This Manual clarifies the conceptual issues concerning stocks and flows of fixed capital and provides practical guidelines for estimation. The Manual also deals with the definition and measurement of "capital services" which measure the contribution of capital assets into the production process.

Guide on Measuring Human Capital

Guide on Measuring Human Capital PDF

Author: United Nations Economic Commission for Europe

Publisher: United Nations

Published: 2017-01-16

Total Pages: 154

ISBN-13: 9210598660

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The idea of viewing individuals’ knowledge and abilities as an asset—as human capital—can be traced back to the work of Adam Smith in the 18th century. But human capital is intangible, and hence hard to define and measure. Increasingly, however, policymakers are calling for ways to understand and quantify human capital, in order to better understand what drives economic growth and the functioning of labour markets, to assess the long-term sustainability of a country’s development path, and to measure the output and productivity performance of the educational sector. Devising a robust methodology for the monetary valuation of the stock of human capital is especially important as studies suggest that human capital is by far the most important component of the total capital stock in most advanced economies. This Guide on Measuring Human Capital discusses conceptual, methodological and implementation issues and challenges. The recommendations are a first attempt to come up with a way to estimate and record the role of human capital in a way that is aligned with the principles of the national accounts and that is comparable across economies.

Fifty Years of Economic Measurement

Fifty Years of Economic Measurement PDF

Author: Ernst R. Berndt

Publisher: University of Chicago Press

Published: 2008-04-15

Total Pages: 468

ISBN-13: 0226044319

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This volume contains papers presented at a conference in May 1988 in Washington, D.C., commemorating the fiftieth anniversary of the founding of the Conference on Research in Income and Wealth (CRIW). The call for papers emphasized assessments of broad topics in economic measurement, both conceptual and pragmatic. The organizers desired (and succeeded in obtaining) a mix of papers that, first, illustrate the range of measurement issues that economics as a science must confront and, second, mark major milestones of CRIW accomplishment. The papers concern prices and output (Griliches, Pieper, Triplett) and also the major productive inputs, capital (Hulten) and labor (Hamermesh). Measures of saving, the source of capital accumulation, are covered in one paper (Boskin); measuring productivity, the source of much of the growth in per capita income, is reviewed in another (Jorgenson). The use of economic data in economic policy analysis and in regulation are illustrated in a review of measures of tax burden (Atrostic and Nunns) and in an analysis of the data needed for environmental regulation (Russell and Smith); the adequacy of data for policy analysis is evaluated in a roundtable discussion (chapter 12) involving four distinguished policy analysts with extensive government experience in Washington and Ottawa.

Measuring Capital in the New Economy

Measuring Capital in the New Economy PDF

Author: Carol Corrado

Publisher: University of Chicago Press

Published: 2009-02-15

Total Pages: 602

ISBN-13: 0226116174

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As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.

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