IDEAS home Printed from https://ideas.repec.org/a/mup/actaun/actaun_2013061072367.html
   My bibliography  Save this article

Measuring quarterly net fixed capital stock in the Czech Republic

Author

Listed:
  • Igor Krejčí

    (Department of Systems Engineering, Faculty of Management and Economics, Czech University of Life Sciences Prague, Kamýcká 129, 165 21 Praha, Czech Republic)

  • Kristýna Vltavská

    (Department of Economic Statistics, Faculty of Informatics and Statistics, University of Economics, Prague, nám. W. Churchilla 4, 130 67 Praha, Czech Republic)

Abstract

Balances of fixed capital are ordinary part of annual national accounts statistics in most developed countries. Although quarterly data are useful for many applications and its existence would be consistent with other quarterly indicators, quarterly fixed capital stock are not officially published. Even though there is no official rule for estimation of quarterly fixed capital stocks, several methods are currently available to estimate quarterly stocks of fixed capital. The objective of this paper is to estimate the quarterly net fixed capital stock in the Czech Republic at constant prices in industry classification (CZ-NACE rev. 2) compatible with official quarterly statistics of the indicators on national economy. For this estimation we distinguish three basic flows of fixed capital. Firstly, gross fixed capital formation is estimated on the basis of official quarterly statistics which is published only in structure by types of assets. Flow of other changes is mainly uniformly distributed. Only in case of catastrophes it was possible to allocate these changes into appropriate quarter. Secondly, net fixed capital stock and consumption of fixed capital are estimated simultaneously on the basis of the assumption of relation between the value of the stock and its depreciation.

Suggested Citation

  • Igor Krejčí & Kristýna Vltavská, 2013. "Measuring quarterly net fixed capital stock in the Czech Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 61(7), pages 2367-2376.
    • Handle: RePEc:mup:actaun:actaun_2013061072367
    DOI: 10.11118/actaun201361072367
    as

    Download full text from publisher

    File URL: http://acta.mendelu.cz/doi/10.11118/actaun201361072367.html
    Download Restriction: free of charge
    File URL: http://acta.mendelu.cz/doi/10.11118/actaun201361072367.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.11118/actaun201361072367?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mata, Tiago, 2004. "Constructing Identity: The Post Keynesians and the Capital Controversies," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(2), pages 241-259, June.
    2. repec:bla:revinw:v:40:y:1994:i:3:p:317-49 is not listed on IDEAS
    3. Gavin Wallis & Alex Turvey, 2009. "Volume of capital services: estimates for 1950 to 2007," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 3(1), pages 53-61, January.
    4. Christophe Kamps, 2006. "New Estimates of Government Net Capital Stocks for 22 OECD Countries, 1960-2001," IMF Staff Papers, Palgrave Macmillan, vol. 53(1), pages 1-6.
    5. Joan Robinson, 1953. "The Production Function and the Theory of Capital," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 21(2), pages 81-106.
    6. Levy, Daniel, 1995. "Capital Stock Depreciation, Tax Rules, and Composition of Aggregate Investment," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 21(1), pages 45-65.
    7. John W. Kendrick & Kyu Sik Lee, 1976. "Quarterly Estimates Of Capital Stocks In The U.S. Private Domestic Economy, By Major Industry Groups," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 22(4), pages 345-352, December.
    8. Levy, Daniel & Chen, Haiwei, 1994. "Estimates of the Aggregate Quarterly Capital Stock for the Post-War U.S. Economy," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 40(3), pages 317-349.
    9. Václav Adamec & Luboš Střelec, 2012. "A study of potential output and output gap in the Czech Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 60(2), pages 9-16.
    10. Christophe Kamps, 2006. "New Estimates of Government Net Capital Stocks for 22 OECD Countries, 1960-2001," IMF Staff Papers, Palgrave Macmillan, vol. 53(1), pages 1-6.
    11. 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.
    12. Bordo, Michael D. & Haubrich, Joseph G., 2010. "Credit crises, money and contractions: An historical view," Journal of Monetary Economics, Elsevier, vol. 57(1), pages 1-18, January.
    13. Brent R. Moulton, 2004. "The system of national accounts for the new economy: What should change?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 50(2), pages 261-278, June.
    14. Hicks, John R, 1974. "Capital Controversies: Ancient and Modern," American Economic Review, American Economic Association, vol. 64(2), pages 307-316, May.
    15. John Appleton & Gavin Wallis, 2011. "Volume of capital services: new annual and quarterly estimates for 1950 to 2009," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 5(5), pages 46-66, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Matthew K. Heun & João Santos & Paul E. Brockway & Randall Pruim & Tiago Domingos & Marco Sakai, 2017. "From Theory to Econometrics to Energy Policy: Cautionary Tales for Policymaking Using Aggregate Production Functions," Energies, MDPI, vol. 10(2), pages 1-44, February.
    2. Santos, João & Domingos, Tiago & Sousa, Tânia & St. Aubyn, Miguel, 2016. "Does a small cost share reflect a negligible role for energy in economic production? Testing for aggregate production functions including capital, labor, and useful exergy through a cointegration-base," MPRA Paper 70850, University Library of Munich, Germany.
    3. Giuseppe Fontana & Bill Gerrard, 2006. "The future of Post Keynesian economics," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 59(236), pages 49-80.
    4. Ensar Yılmaz & Zeynep Kaplan, 2022. "Heterogeneity of market power: firm-level evidence," Economic Change and Restructuring, Springer, vol. 55(2), pages 1207-1228, May.
    5. repec:osf:socarx:t8muy_v1 is not listed on IDEAS
    6. MORITA, Hiroshi, 2024. "New Approach to Estimating the Productivity of Public Capital : Evidence from 22 OECD Countries," Discussion paper series HIAS-E-141, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    7. 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.
    8. Marta Arespa, 2015. "Endogenous Home Bias in Portfolio Diversification and Firms’ Entry," Review of International Economics, Wiley Blackwell, vol. 23(1), pages 14-44, February.
    9. Blair Fix, 2019. "The Aggregation Problem: Implications for Ecological and Biophysical Economics," Biophysical Economics and Resource Quality, Springer, vol. 4(1), pages 1-15, March.
    10. Reino Hjerppe & Pellervo Hämäläinen & Jaakko Kiander & Matti Viren, 2007. "Do government expenditures increase private sector productivity?," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 34(5), pages 345-360, April.
    11. Ward Romp & Jakob De Haan, 2007. "Public Capital and Economic Growth: A Critical Survey," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(S1), pages 6-52, April.
    12. Mr. Michael Kumhof & Huixin Bi, 2009. "Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints," IMF Working Papers 2009/286, International Monetary Fund.
    13. Carmen D. Ã lvarez-Albelo, 2018. "A calibration of the output elasticity of public capital," Economics Bulletin, AccessEcon, vol. 38(2), pages 761-771.
    14. Pellervo Hamalainen, 2009. "Review of literature on the productivity of public capital," Discussion Papers 55, Aboa Centre for Economics.
    15. Mitra, Arup & Sharma, Chandan & Véganzonès-Varoudakis, Marie-Ange, 2016. "Infrastructure, information & communication technology and firms’ productive performance of the Indian manufacturing," Journal of Policy Modeling, Elsevier, vol. 38(2), pages 353-371.
    16. de Castro,Luciano & Frischtak,Claudio R. & Rodrigues,Arthur, 2023. "How to Deal with Exchange Rate Risk in Infrastructure and Other Long-Lived Projects," Policy Research Working Paper Series 10568, The World Bank.
    17. Pedro Gomes & Zoe Kuehn, 2017. "Human capital and the size distribution of firms," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 164-179, October.
    18. Marie-Ange VEGANZONES-VAROUDAKIS & Arup MITRA & Chandan SHARMA, 2011. "Total Factor Productivity and Technical Efficiency of Indian Manufacturing: The Role of Infrastructure and Information & Communication Technology," Working Papers 201115, CERDI.
    19. Fix, Blair, 2017. "Evidence for a Power Theory of Personal Income Distribution," Working Papers on Capital as Power 2017/03, Capital As Power - Toward a New Cosmology of Capitalism.
    20. Masten, Igor & Grdović Gnip, Ana, 2019. "Macroeconomic effects of public investment in South-East Europe," Journal of Policy Modeling, Elsevier, vol. 41(6), pages 1179-1194.
    21. Juliette Milgram‐Baleix & Ana I. Moro‐Egido, 2010. "The Asymmetric Effect of Endowments on Vertical Intra‐industrial Trade," The World Economy, Wiley Blackwell, vol. 33(5), pages 746-777, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mup:actaun:actaun_2013061072367. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ivo Andrle (email available below). General contact details of provider: https://mendelu.cz/en/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.