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Estimates Of Capital Stock By Industries For Austria

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  • Franz Hahn
  • Ingo Schmoranz

Abstract

The present investigation is the first attempt to calculate gross capital stocks for 19 industries which together cover the whole Austrian economy. A production‐oriented concept of capital formed the basis of the investigation; the estimation procedure follows that of C. Almon et al. In contrast to the traditional perpetual‐inventory methods, Almon's modified estimation technique combines the advantages of differentiated cumulation containing a logistical retention function with relatively moderate requirements with respect to investment data. A thorough description of this estimation technique is given in the third section of the paper, combined with a number of comparative model calculations. These demonstrate very clearly that capital stock figures calculated according to the Almon method rarely deviate from those found with the help of the traditional inventory method, which requires considerably more information and uses more complicated calculation procedures. Finally, the sectorally disaggregated capital stock estimates calculated according to the Almon method are presented with some interpretative remarks.

Suggested Citation

  • Franz Hahn & Ingo Schmoranz, 1984. "Estimates Of Capital Stock By Industries For Austria," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 30(3), pages 289-307, September.
  • Handle: RePEc:bla:revinw:v:30:y:1984:i:3:p:289-307
    DOI: 10.1111/j.1475-4991.1984.tb00553.x
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    Citations

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    Cited by:

    1. Sandra Martina Leitner, 2008. "Interrelatedness, Dynamic Factor Adjustment Patterns and Firm Heterogeneity in Austrian Manufacturing," Economics working papers 2008-03, Department of Economics, Johannes Kepler University Linz, Austria.
    2. Passas, Costas, 2023. "Standardized capital stock estimates for the Greek economy 1948–2020," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 236-244.
    3. Franz R. Hahn & Christa Magerl, 2006. "Sektorale Vermögensrechnung für Österreich," WIFO Studies, WIFO, number 25916, February.
    4. Hofmeister, Zlatina & der Helm, Ruben van, 2017. "Estimating non-financial assets by institutional sector for the euro area," Statistics Paper Series 23, European Central Bank.
    5. Werner Hölzl & Robert Leisch, 2004. "Estimates of capital stocks and capital productivity in Austrian manufacturing industries, 1978 -1994," Working Papers geewp41, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
    6. Koman, Reinhard & Marin, Dalia, 1999. "Human Capital and Macroeconomic Growth: Austria and Germany 1960-1997 - An Update," Economics Series 69, Institute for Advanced Studies.
    7. Zlatina Balabanova & Maureen Ruben van der Helm, 2015. "Enhancing euro area capital stock estimates," IFC Working Papers 13, Bank for International Settlements.
    8. Zlatina Balabanova & Ruben van der Helm, 2015. "Enhancing euro area capital stock estimates," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Indicators to support monetary and financial stability analysis: data sources and statistical methodologies, volume 39, Bank for International Settlements.

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