It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need to use quarterly data which may not be captured by annual data. However, quarterly data on capital input and the cost of capital are not readily available. Thus, in this paper the quarterly real and nominal aggregate net capital stock, flow of capital services (capital input), and the user cost of capital are constructed from 1948:I to 1993:IV. In the aggregation of net capital stock, we have combined four categories, i.e., nonresidential structures, nonresidential producers' durable equipment, residential structures and equipment, and business inventories. Following Jorgenson et. al. (1987), we then constructed aggregate capital input by using the Tornqvist aggregation index over these four categories. Finally, the composite cost of capital is obtained by dividing the revenue of capital by the aggregate capital input.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by EconWPA in its series Data with number
9506001.
Length: 19 pages Date of creation: 20 Jun 1995 Date of revision:
20 Jun 1995 Handle: RePEc:wpa:wuwpda:9506001
Note: WordPerfect 5.x, IBM PC, HP LaserJet III, pages: 19 (text) + 21 (tables); figures: none; tables: 5; Binary Word Perfect and five ASCII tables FTP'ed Contact details of provider: Web page: http://129.3.20.41
For technical questions regarding this item, or to correct its listing, contact: (EconWPA).
Related research
Keywords:
Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.: