Quarterly Aggregate Capital Input and the Cost of Capital for the
It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need to use quarterly data which may not be captured by annual data. However, quarterly data on capital input and the cost of capital are not readily available. Thus, in this paper the quarterly real and nominal aggregate net capital stock, flow of capital services (capital input), and the user cost of capital are constructed from 1948:I to 1993:IV. In the aggregation of net capital stock, we have combined four categories, i.e., nonresidential structures, nonresidential producers' durable equipment, residential structures and equipment, and business inventories. Following Jorgenson et. al. (1987), we then constructed aggregate capital input by using the Tornqvist aggregation index over these four categories. Finally, the composite cost of capital is obtained by dividing the revenue of capital by the aggregate capital input.
|Date of creation:||20 Jun 1995|
|Date of revision:||20 Jun 1995|
|Note:||WordPerfect 5.x, IBM PC, HP LaserJet III, pages: 19 (text) + 21 (tables); figures: none; tables: 5; Binary Word Perfect and five ASCII tables FTP'ed|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May.
- Daniel Levy & Haiwei Chen, 2005.
"Estimates of the Aggregate Quarterly Capital Stock for the Post- War U.S. Economy,"
0505008, EconWPA, revised 16 May 2005.
- Levy, Daniel & Chen, Haiwei, 1994. "Estimates of the Aggregate Quarterly Capital Stock for the Post-war U.S. Economy," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 40(3), pages 317-49, September.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpda:9506001. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.