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Capital Stock And Capital Consumption Estimates By Industries In The Swedish National Accounts

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  • ÅKe Tengblad
  • Nana Westerlund

Abstract

This paper gives a general description of the principles and methods in connection with making estimates of capital stock and capital consumption in the Swedish National Accounts, with breakdowns into industries and purposes of government services. The first section of the paper deals with definitions, principles and related questions. The major part of the estimates have been made according to the perpetual inventory method. The principles of this method are summarized. A number of problems relating to price indices are also described, as well as problems of valuation of capital for net worth and capital consumption estimates. The second section describes the methods of estimation and sources of data. The calculations have been made on a level of disaggregation into 41 industries and 13 purposes of government services. Three methods are used, i.e., direct estimates for capital objects, where some form of current stock data has been available, insurance values as proxy for replacement values, and perpetual inventory estimates. Comparisons between estimates according to the various methods are made in a number of cases. In the third section a few special problems regarding the quality of the estimates and the possibilities of improving the estimates are explored. The main problems refer to the lack of gross fixed capital formation data, in the form of detailed series which are consistent, cover a long period, and are deflated with an adequate set of price indices. The lack of information on survival curves and durabilities of various types of capital objects is also a severe set‐back. Direct inventories would improve the level of the estimates, but they would also be difficult and costly to undertake. The change in capital stock would in any case have to be determined on the basis of gross fixed capital formation data.

Suggested Citation

  • ÅKe Tengblad & Nana Westerlund, 1976. "Capital Stock And Capital Consumption Estimates By Industries In The Swedish National Accounts," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 22(4), pages 331-344, December.
  • Handle: RePEc:bla:revinw:v:22:y:1976:i:4:p:331-344
    DOI: 10.1111/j.1475-4991.1976.tb00840.x
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    Cited by:

    1. Lucilene Morandi & Eustáquio J. Reis, 2004. "Estoque De Capital Fixo No Brasil, 1950-2002," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] 042, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    2. Passas, Costas, 2023. "Standardized capital stock estimates for the Greek economy 1948–2020," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 236-244.
    3. Norén, Ronny, 2001. "Dismissal of Employees in the Swedish Manufacturing Industry," Umeå Economic Studies 575, Umeå University, Department of Economics.
    4. Noren, Ronny, 2004. "Dismissal of employees in Swedish manufacturing," Journal of Policy Modeling, Elsevier, vol. 26(2), pages 151-164, February.

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