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Stock de Capital en Chile (1985-2005): Metodología y Resultados

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  • Claudia Henríquez G.

Abstract

This paper presents the methodology of capital stock measurement for the Chilean economy by types of assets and different economic activities, according to the Reference Compilation 2003 of National Accounts System. Capital stocks by types of assets are estimated under the Perpetual Inventory Method (PIM), while the activity sectors approach follows to Harberger (1972) method. Specifically, integrated and consistent measurements for investment, capital stock (gross and net) and consumption of fixed capital are presented. We assume different patterns of retirement and survival and depreciation functions, following the international evidence and previous studies for the case of Chile. The findings show that the assumed average service lives of the assets are key. Also, geometric depreciation is used and then compared with the linear depreciation functions. The main results show a continuum growth of net capital stocks/PIB ratio from 1996 to 2005 up to 2.3%. The consumption of fixed capital/GDP ratio is 10.4% (assuming linear depreciation) for the period 2003-2005, below the National Accounts measure (12%)

Suggested Citation

  • Claudia Henríquez G., 2008. "Stock de Capital en Chile (1985-2005): Metodología y Resultados," Economic Statistics Series 63, Central Bank of Chile.
    • Handle: RePEc:chb:bcchee:63
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    References listed on IDEAS

    as
    1. Jose Miguel Albala-Bertrand, 2003. "An Economical Approach to Estimate a Benchmark Capital Stock. An Optimal Consistency Method," Working Papers 503, Queen Mary University of London, School of Economics and Finance.
    2. Gábor Pula, 2003. "Capital Stock Estimation in Hungary: A Brief Description of Methodolgy and Results," MNB Working Papers 2003/7, Magyar Nemzeti Bank (Central Bank of Hungary).
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    Cited by:

    1. Camila Figueroa & Jorge Fornero & Pablo García, 2019. "Hindsight vs. Real time measurement of the output gap: Implications for the Phillips curve in the Chilean Case," Working Papers Central Bank of Chile 854, Central Bank of Chile.
    2. Ricardo Ffrench-Davis & Diego Vivanco, 2016. "Depreciación del Capital Físico, Inversión Neta y Producto Interno Neto," Working Papers wp425, University of Chile, Department of Economics.
    3. Figueroa B., Eugenio & Orihuela R., Carlos & Calfucura T., Enrique, 2010. "Green accounting and sustainability of the Peruvian metal mining sector," Resources Policy, Elsevier, vol. 35(3), pages 156-167, September.
    4. Bayer, Christian & Mecikovsky, Ariel & Meier, Matthias, 2018. "Misallocation: Markups and Technology," CEPR Discussion Papers 12727, C.E.P.R. Discussion Papers.
    5. Eugenio Figueroa B. & Enrique Calfucura T., 2010. "Sustainable development in a natural resource rich economy: the case of Chile in 1985–2004," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 12(5), pages 647-667, October.
    6. Matthias Meier & Ariel Mecikovsky & Christian Bayer, 2014. "Dynamics of Factor Productivity Dispersions," 2014 Meeting Papers 719, Society for Economic Dynamics.

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