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dc.contributor.authorAlbala-Bertrand, Jose Miguelen_US
dc.date.accessioned2012-09-20T13:02:18Z-
dc.date.available2012-09-20T13:02:18Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/62934-
dc.description.abstractThere are alternative methods of estimating capital stock for a benchmark year. However, these methods are costly and time-consuming, requiring the gathering of much basic information as well as the use of some convenient assumptions and guesses. In addition, a way is needed of checking whether the estimated benchmark is at the correct level. This paper proposes an optimal consistency method (OCM), which enables a capital stock to be estimated for a benchmark year, and which can also be used in checking the consistency of alternative estimates. This method, in contrast to most current approaches, pays due regards both to potential output and to the productivity of capital. It works well, and it requires only small amounts of data, which are readily available. This makes it virtually costless in both time and funding.en_US
dc.language.isoengen_US
dc.publisherQueen Mary, Univ. of London, Dep. of Economics Londonen_US
dc.relation.ispartofseriesWorking Paper, Department of Economics, Queen Mary, University of London 503en_US
dc.subject.jelO4en_US
dc.subject.jelB4en_US
dc.subject.ddc330en_US
dc.subject.keywordBenchmark capital, Perpetual Inventory Method (PIM), Potential output, Capital productivity, Optimal Consistency Method (OCM)en_US
dc.subject.stwGesamtwirtschaftliches Anlagevermögenen_US
dc.subject.stwSchätzungen_US
dc.subject.stwBenchmarkingen_US
dc.subject.stwVergleichen_US
dc.subject.stwOECD-Staatenen_US
dc.subject.stwLateinamerikaen_US
dc.subject.stwBestandsbewertungen_US
dc.titleAn economical approach to estimate a benchmark capital stock: An optimal consistency methoden_US
dc.typeWorking Paperen_US
dc.identifier.ppn377474363en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Paper Series, School of Economics and Finance, Queen Mary, University of London

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