NDLI: Productive Stock and Capital Services

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Acknowledgements

Executive Summary

Context, Purpose and Scope of the Manual

How asset values are determined

Asset Retirement and the Gross Capital Stock

Depreciation or Consumption of Fixed Capital

Net ("Wealth") Capital Stock

Productive Stock and Capital Services

Scope of Capital Measurement and Classifications

The Perpetual Inventory Method – Overview

Age-efficiency Profiles

Age-price and Depreciation Profiles

Service Lives and Retirement of Assets

Gross Fixed Capital Formation

Computing Net, Gross and Productive Capital Stocks and Depreciation

Estimating Rates of Return

Aggregation Across Assets and Industries

Special Issues in Capital Measurement

Annex A. Asset service lives.

Annex B. Implementation of capital estimates using an artificial dataset.

annex C. Simplified perpetual inventory method.

Annex D. Links between age-efficiency and age-price profiles.

Productive Stock and Capital Services

Content Provider	OECD iLibrary
Organization	OECD
Abstract	The stock of a particular type of assets surviving from past periods, and corrected for its loss in productive efficiency is the productive capital stock1. Thus, productive stocks are directly related to the quantity and production aspect of capital. Productive stocks constitute an intermediate step towards the measurement of capital services. The assumption is made that the flow of capital services – the actual capital input into production – is proportional to the productive stock of an asset class. If the factor of proportionality is constant, the rate of change of capital services will equal the rate of change of the productive stock2. The same rate of change constitutes the volume component when it comes to splitting the change in the total value of capital services at current prices into a price and a volume component. A different way of seeing the productive stock of a particular type of asset is as the embodied volume of current and future capital services. The concept of a productive stock is only meaningful at the disaggregate level of a particular type of asset. Once each asset’s productive stock is combined with the corresponding capital service price (per unit of the productive stock), the resulting value represents the flow of capital services. This is the relevant variable for aggregation across different types of assets.
Page Count	4
Starting Page	59
Ending Page	62
Language	English
Publisher	OECD Publishing
Publisher Date	2009-09-01
Access Restriction	Open
Subject Keyword	Economics
Content Type	Text
Resource Type	Chapter

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