The Flexible Accelerator Model and the ‘Regionalization’ of Capital Stock Estimates
AbstractThis paper suggests a model of obtaining estimates of capital stock based on the theory of ‘flexible accelerator’. However, this represents a rather ‘indirect’ method independently for each year and each region. Clearly this is an unrealistic condition, especially for regional economies characterized by mutual spatial dependence. To add an extra injection of realism, we illustrate how a national model of capital stock (the stock –flow model) can effectively be ‘regionalized’.
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Bibliographic InfoArticle provided by Hellenic Association of Regional Scientists in its journal Regional Science Inquiry.
Volume (Year): IV (2012)
Issue (Month): 1 (June)
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capital stock; flexible accelerator; spatial analysis; stock-flow;
Find related papers by JEL classification:
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
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- Bar-Nathan, Moshe & Beenstock, Michael & Haitovsky, Yoel, 1998. "The market for housing in Israel," Regional Science and Urban Economics, Elsevier, vol. 28(1), pages 21-49, January.
- Michael Beenstock & Daniel Felsenstein, 2010. "Spatial error correction and cointegration in nonstationary panel data: regional house prices in Israel," Journal of Geographical Systems, Springer, vol. 12(2), pages 189-206, June.
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