Measuring real investment: trends in the United States and international comparisons
The standard measures of nominal capital formation suggest that the proportion of GDP the United States is dedicating to investment has been much lower than that of other developed countries throughout the last 25 years. By calculating the measures in real terms across countries and over time, authors Milka S. Kirova and Robert E. Lipsey show that the U.S. investment ratios have been rising over time, coming increasingly closer to those of other countries. Using a broader measure of capital formation that is more consonant with economic concepts, they show that U.S. investment has been close to that of other countries since 1970 and was an above-average share of total output in the most recent period studies (1990-94). Their calculations indicate that, broadly defined, real capital formation per capita and per worker has been 30 to 60 percent higher in the United States than in the other countries studied.
Volume (Year): (1998)
Issue (Month): Jan ()
|Contact details of provider:|| Postal: P.O. Box 442, St. Louis, MO 63166|
Web page: http://www.stlouisfed.org/
More information through EDIRC
|Order Information:|| Web: https://research.stlouisfed.org/publications/ Email: |
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.:
- Horioka, C.Y., 1993.
"Is Japan's Household Saving Rate Really High?,"
ISER Discussion Paper
0308, Institute of Social and Economic Research, Osaka University.
- repec:ucp:bkecon:9780226301532 is not listed on IDEAS
- Milton Friedman & Simon Kuznets, 1954. "Income from Independent Professional Practice," NBER Books, National Bureau of Economic Research, Inc, number frie54-1.
- Fumio Hayashi, 1986. "Why Is Japan's Saving Rate So Apparently High?," NBER Chapters, in: NBER Macroeconomics Annual 1986, Volume 1, pages 147-234 National Bureau of Economic Research, Inc.
- Milka Kirova & Robert E. Lipsey, 1997. "Does the United States invest "too little?"," Working Papers 1997-020, Federal Reserve Bank of St. Louis.
- Peter Hooper & J. David Richardson, 1991. "International Economic Transactions: Issues in Measurement and Empirical Research," NBER Working Papers 3805, National Bureau of Economic Research, Inc.
- Eisner, Robert, 1989. "The Total Incomes System of Accounts," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226196381.
- Peter Hooper & J. David Richardson, 1991. "International Economic Transactions: Issues in Measurement and Empirical Research," NBER Books, National Bureau of Economic Research, Inc, number hoop91-1.
When requesting a correction, please mention this item's handle: RePEc:fip:fedlrv:y:1998:i:jan:p:3-18. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Xiao)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.