Productivity statistics

Measuring Capital - OECD Manual 2009

Second edition

Published on September 01, 2009

Also available in: Spanish, French

book

Capital - in particular of the physical sort - plays several roles in economic life: it constitutes wealth and it it provides services in production processes. Capital is invested, disinvested and it depreciates and becomes obsolescent and there is a question how to measure all these dimensions of capital in industry and national accounts. This revised Capital Manual is a comprehensive guide to the approaches toward capital measurement. It gives statisticians, researchers and analysts practical advice while providing theoretical background and an overview of the relevant literature. The manual comes in three parts - a first part with a non-technical description with the main concepts and steps involved in measuring capital; a second part directed at implementation and a third part outlining theory and a more complete mathematical formulation of the measurement process.

TABLE OF CONTENTS

Preface
Acknowledgements
Executive Summary
Context, Purpose and Scope of the Manual
Introduction
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
User Costs
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
The Model
Annex A
Annex B
annex C
Annex D
Glossary
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