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Volume of capital services: estimates for 1950 to 2005

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  • Gavin Wallis

    (HM Treasury)

Abstract

Presents experimental estimates for the volume of capital services, which are being used by ONS to produce official UK multi-factor productivity estimates.Capital services are the measure of capital input that is suitable for analysing and modelling productivity. This article presents experimental estimates of the volume of capital services for the UK as a whole, for the market sector, by fiveasset types and also by detailed industry. The key features of the estimates include the strong growth in capital services from computers and also much stronger growth in the services industries than in the production industries over recent years. The estimates presented here arebeing used by the Office for National Statistics to produce official multi-factor productivity estimates for the UK. Economic & Labour Market Review (2007) 1, 39–47; doi:10.1057/palgrave.elmr.1410107

Suggested Citation

  • Gavin Wallis, 2007. "Volume of capital services: estimates for 1950 to 2005," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 1(7), pages 39-47, July.
    • Handle: RePEc:pal:ecolmr:v:1:y:2007:i:7:p:39-47
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    Cited by:

    1. Markus Eberhardt & Christian Helmers & Hubert Strauss, 2013. "Do Spillovers Matter When Estimating Private Returns to R&D?," The Review of Economics and Statistics, MIT Press, vol. 95(2), pages 436-448, May.
    2. Markus Eberhardt & Christian Helmers, 2010. "Untested Assumptions and Data Slicing: A Critical Review of Firm-Level Production Function Estimators," Economics Series Working Papers 513, University of Oxford, Department of Economics.

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