Chapter

Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates

W. Erwin Diewert

in Measuring Capital in the New Economy

Published by University of Chicago Press

Published in print October 2005 | ISBN: 9780226116129
Published online February 2013 | e-ISBN: 9780226116174 | DOI: http://dx.doi.org/10.7208/chicago/9780226116174.003.0013
Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates

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This chapter provides a unified framework for the measurement of capital that addresses many of the issues and topics covered in the volume. It discusses some of the problems involved in constructing price and quantity series for both capital stocks and the associated flows of services when there are general and asset-specific price changes in the economy. This chapter also reviews the standard methods for measuring capital, examines a range of alternatives for the treatment of depreciation, and explores the role of quality change and how intangible assets stocks could be measured.

Keywords: measurement of capital; capital stocks; price changes; depreciation; quality change; intangible assets

Chapter.  38975 words.  Illustrated.

Subjects: Econometrics and Mathematical Economics

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