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dc.contributor.authorAlbala-Bertrand, Jose Miguelen
dc.date.accessioned2012-09-20T13:02:18Z-
dc.date.available2012-09-20T13:02:18Z-
dc.date.issued2003-
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
dc.language.isoengen
dc.publisher|aQueen Mary University of London, Department of Economics |cLondonen
dc.relation.ispartofseries|aWorking Paper |x503en
dc.subject.jelO4en
dc.subject.jelB4en
dc.subject.ddc330en
dc.subject.keywordBenchmark capital, Perpetual Inventory Method (PIM), Potential output, Capital productivity, Optimal Consistency Method (OCM)en
dc.subject.stwGesamtwirtschaftliches Anlagevermögenen
dc.subject.stwSchätzungen
dc.subject.stwBenchmarkingen
dc.subject.stwVergleichen
dc.subject.stwOECD-Staatenen
dc.subject.stwLateinamerikaen
dc.subject.stwBestandsbewertungen
dc.titleAn economical approach to estimate a benchmark capital stock: An optimal consistency method-
dc.typeWorking Paperen
dc.identifier.ppn377474363en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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