Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/192500 
Authors: 
Year of Publication: 
2007
Series/Report no.: 
Discussion Papers No. 518
Publisher: 
Statistics Norway, Research Department, Oslo
Abstract: 
Aggregation of tangible capital assets across vintages and decomposition of value aggregates into quantities and prices are considered. Focus is on both capital stock values and capital service values. If the definitions and ways of measuring prices and quantities are not conformable, a third component, denoted a quality component, may have to be included as a buffer. Should it then be suppressed by allocating it to either of the price and quantity components, or should quality be accounted for separately? In discussing these issues, five quantity variables and five price variables are involved. Some of them are observable from market data without large efforts, some are essentially unobservable, and some can be quantified only if certain (often non-testable) assumptions are made. Illustrations based on parametric functions are given.
Subjects: 
Capital measurement
Aggregation
Capital service price
Capital quality
Arbitrage
Neo-classical theory
JEL: 
C43
C82
D24
E22
Document Type: 
Working Paper

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