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Retropolation of the investment series (GFCF) and estimation of fixed capital stocks on the ESA-95 basis for the French balance sheets

Author

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  • G. BRILHAULT

    (Insee)

Abstract

The estimation of fixed capital stocks for the French balance sheets uses the "perpetual inventory method" (PIM). The PIM simulates the accumulation process of the capital stock using past investment flows. To construct series of fixed capital stocks on the ESA-95 basis, one requires, for each fixed asset, historical series of gross fixed capital formation (GFCF). In the first part of the paper, the retropolation of GFCF, needed for the calculation of fixed capital stocks from 1970 onwards, is discussed. The second part describes how the fixed capital stocks are estimated using the longrun investment series. Fixed capital stocks are calculated for each institutional sector by branch and by each item of the classification of fixed assets in the balance sheets (series beginning in 1970). The third part compares the fixed capital stocks of the 1980 and 1995 Revisions, and shows that much of the discrepancies between the two Revisions are due to conceptual and methodological differences.

Suggested Citation

  • G. Brilhault, 2002. "Retropolation of the investment series (GFCF) and estimation of fixed capital stocks on the ESA-95 basis for the French balance sheets," Documents de Travail de l'Insee - INSEE Working Papers g2002-04, Institut National de la Statistique et des Etudes Economiques.
    • Handle: RePEc:nse:doctra:g2002-04
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    File URL: https://www.bnsp.insee.fr/ark:/12148/bc6p07c11tf/f1.pdf
    File Function: Document de travail de la DESE numéro G2002-04
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    More about this item

    Keywords

    national accounts; balance sheets; fixed capital; GFCF; PIM; permanent inventory;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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