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The Flexible Accelerator Model and the ‘Regionalization’ of Capital Stock Estimates

Author

Listed:
  • Stilianos Alexiadis

    (Ministry of Rural Development & Foods, Department of Agricultural Policy & Documentation, Division of Agricultural Statistics,)

  • Daniel Felsenstein

    (Associate Professor, Department of Geography, Hebrew University of Jerusalem)

Abstract

This 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’.

Suggested Citation

  • Stilianos Alexiadis & Daniel Felsenstein, 2012. "The Flexible Accelerator Model and the ‘Regionalization’ of Capital Stock Estimates," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 39-44, June.
    • Handle: RePEc:hrs:journl:v:iv:y:2012:i:1:p:39-44
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    References listed on IDEAS

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    1. 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.
    2. 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.
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    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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