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The Analysis of the Age Structure of Regional Fixed Capital in the Agriculture

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  • Mazouch, P.
  • Krejčí, I.

Abstract

The paper deals with an estimate and analysis of the value of regional net fixed capital stock and the age structure of machinery and equipment in Czech agriculture. In order to perform such analysis, the official model of perpetual inventory method is transformed into the Markov chain model and applied on regional data separately. Regional net fixed capital stock is presented for the period of 2008-2013. The development of the average age of machinery and equipment comprises a potential indicator of the modernisation process in the industry. The analysis of the age structure is based on the structure heterogeneity indicator. For these purposes, the real age structure in each Czech region is compared with the theoretical stable and stationary structure. Currently, the most heterogeneous age structure of machinery and equipment occurs in Prague and the Karlovy Vary region.

Suggested Citation

  • Mazouch, P. & Krejčí, I., 2016. "The Analysis of the Age Structure of Regional Fixed Capital in the Agriculture," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 8(2), pages 1-13, June.
  • Handle: RePEc:ags:aolpei:241372
    DOI: 10.22004/ag.econ.241372
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    File URL: http://ageconsearch.umn.edu/record/241372/files/agris_on-line_2016_2_mazouch_krejci.pdf
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    References listed on IDEAS

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    1. Avi J. Cohen, 2003. "Retrospectives: Whatever Happened to the Cambridge Capital Theory Controversies?," Journal of Economic Perspectives, American Economic Association, vol. 17(1), pages 199-214, Winter.
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    3. van der Duyn Schouten, F. A. & Vanneste, S. G., 1990. "Analysis and computation of (n, N)-strategies for maintenance of a two-component system," European Journal of Operational Research, Elsevier, vol. 48(2), pages 260-274, September.
    4. Latruffe, Laure & Piet, Laurent, 2013. "Does land fragmentation affect farm performance? A case study from Brittany," Factor Markets Working Papers 151, Centre for European Policy Studies.
    5. J. Derbyshire & B. Gardiner & S. Waights, 2013. "Estimating the capital stock for the NUTS2 regions of the EU27," Applied Economics, Taylor & Francis Journals, vol. 45(9), pages 1133-1149, March.
    6. Joan Robinson, 1953. "The Production Function and the Theory of Capital," Review of Economic Studies, Oxford University Press, vol. 21(2), pages 81-106.
    7. Bielik, Peter & Hupkova, Daniela, 2011. "The Technical Efficiency Analysis – Case of Agricultural Basic Industry in Slovakia," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 3(1), pages 1-10, March.
    8. Hulten, Charles R & Wykoff, Frank C, 1996. "Issues in the Measurement of Economic Depreciation: Introductory Remarks," Economic Inquiry, Western Economic Association International, vol. 34(1), pages 10-23, January.
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    Keywords

    Research Methods/ Statistical Methods;

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