IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2012y2012i6id877p780-800.html
   My bibliography  Save this article

Využití alternativních metod při odhadech stavů a spotřeby fixního kapitálu
[Alternative Methods for Measuring of Fixed Capital]

Author

Listed:
  • Igor Krejčí
  • Jaroslav Sixta

Abstract

The article focuses on alternative approaches of fixed capital measurement. The official direct estimation for Czech economy is based on straight line depreciation profile. This article presents the results based on the application of geometric depreciation profile on appropriate types of assets. Alternative consumption and net stock of fixed assets are presented. The impact on GDP of such changes is evaluated. New model of perpetual inventory method is transformed to Markov chain. Such transformation leads to easy estimation of average age of fixed assets. Such estimation is suitable for asset with short average service lives. The article presents average age for machinery and equipment. All calculations focus on development between 1995 and 2010.

Suggested Citation

  • Igor Krejčí & Jaroslav Sixta, 2012. "Využití alternativních metod při odhadech stavů a spotřeby fixního kapitálu [Alternative Methods for Measuring of Fixed Capital]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(6), pages 780-800.
    • Handle: RePEc:prg:jnlpol:v:2012:y:2012:i:6:id:877:p:780-800
    DOI: 10.18267/j.polek.877
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.877.html
    Download Restriction: free of charge
    File URL: http://polek.vse.cz/doi/10.18267/j.polek.877.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.polek.877?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Jorgenson, Dale W, 1996. "Empirical Studies of Depreciation," Economic Inquiry, Western Economic Association International, vol. 34(1), pages 24-42, January.
    2. Carol Corrado & John Haltiwanger & Daniel Sichel, 2005. "Measuring Capital in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number corr05-1, May.
    3. Hulten, Charles R & Wykoff, Frank C, 1996. "Issues in the Measurement of Economic Depreciation: Introductory Remarks," Economic Inquiry, Western Economic Association International, vol. 34(1), pages 10-23, January.
    4. Mojmír Hájek & Jiří Mihola, 2009. "Analýza vlivu souhrnné produktivity faktorů na ekonomický růst České republiky [Analysis of Total Factor Productivity Contribution to Economic Growth of the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2009(6), pages 740-753.
    5. van der Duyn Schouten, F. A. & Vanneste, S. G., 1990. "Analysis and computation of (n, N)-strategies for maintenance of a two-component system," European Journal of Operational Research, Elsevier, vol. 48(2), pages 260-274, September.
    6. W. Erwin Diewert, 2005. "Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates," NBER Chapters, in: Measuring Capital in the New Economy, pages 479-556, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mazouch, P. & Krejčí, I., 2016. "The Analysis of the Age Structure of Regional Fixed Capital in the Agriculture," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 8(2), pages 1-13, June.
    2. Igor KREJČÍ & Petr MAZOUCH & Kristýna VLTAVSKÁ & Roman KVASNIČKA, 2015. "Age of machinery and equipment in the Czech agriculture," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 61(8), pages 356-366.
    3. Jakub Fischer & Kristýna Vltavská & Igor Krejčí, 2013. "The Impact of Revisions of National Accounts on the Estimation of Derived Indicator [Dopad revizí v národních účtech na odhady odvozeného indikátoru]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2013(4), pages 20-33.
    4. Diewert, Erwin & Nakamura, Alice O., 2009. "Accounting for Housing in a CPI," Economics working papers erwin_diewert-2009-19, Vancouver School of Economics, revised 12 Mar 2009.
    5. De, Supriyo, 2014. "Intangible capital and growth in the ‘new economy’: Implications of a multi-sector endogenous growth model," Structural Change and Economic Dynamics, Elsevier, vol. 28(C), pages 25-42.
    6. Erwin Diewert, 2009. "The aggregation of capital over vintages in a model of embodied technical progress," Journal of Productivity Analysis, Springer, vol. 32(1), pages 1-19, August.
    7. Jennifer Bennett & Robert Kornfeld & Daniel Sichel & David Wasshausen, 2020. "Measuring Infrastructure in BEA's National Economic Accounts," NBER Chapters, in: Economic Analysis and Infrastructure Investment, pages 39-100, National Bureau of Economic Research, Inc.
    8. Paul Schreyer & W. Erwin Diewert, 2014. "Household Production, Leisure, and Living Standards," NBER Chapters, in: Measuring Economic Sustainability and Progress, pages 89-114, National Bureau of Economic Research, Inc.
    9. Andersen, Matthew A. & Alston, Julian M. & Pardey, Philip G., 2009. "Capital Service Flows: Concepts and Comparisons of Alternative Measures in U.S. Agriculture," Staff Papers 50098, University of Minnesota, Department of Applied Economics.
    10. W. Erwin Diewert, 2003. "Measuring Capital," NBER Working Papers 9526, National Bureau of Economic Research, Inc.
    11. Carol Corrado & Wendy E. Dunn & Maria Ward Otoo, 2006. "Incentives and prices for motor vehicles: what has been happening in recent years?," Finance and Economics Discussion Series 2006-09, Board of Governors of the Federal Reserve System (U.S.).
    12. Arvid Raknerud & Dag Rønningen & Terje Skjerpen, 2007. "A Method for Improved Capital Measurement by Combining Accounts and Firm Investment Data. A revised version," Discussion Papers 365, Statistics Norway, Research Department.
    13. Maxim Moroz, 2016. "Economical Type of Depreciation," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-32.
    14. Fullerton Don & West Sarah E, 2010. "Tax and Subsidy Combinations for the Control of Car Pollution," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-33, February.
    15. Robert D. Cairns, 2013. "The fundamental problem of accounting," Canadian Journal of Economics, Canadian Economics Association, vol. 46(2), pages 634-655, May.
    16. Iqbal A. Syed & Jan De Haan, 2017. "Age, Time, Vintage, And Price Indexes: Measuring The Depreciation Pattern Of Houses," Economic Inquiry, Western Economic Association International, vol. 55(1), pages 580-600, January.
    17. Ye Feng & Don Fullerton & Li Gan, 2013. "Vehicle choices, miles driven, and pollution policies," Journal of Regulatory Economics, Springer, vol. 44(1), pages 4-29, August.
    18. Neil Crosby & Steven Devaney, 2006. "Depreciation and its Impact on the Total Return of UK Commercial Real Estate, 1994-2003," Real Estate & Planning Working Papers rep-wp2006-05, Henley Business School, University of Reading.
    19. W. Erwin Diewert, 2012. "Rejoinder to Gu on "Estimating Capital Input for Measuring Business Sector Multifactor Productivity Growth in Canada"," International Productivity Monitor, Centre for the Study of Living Standards, vol. 24, pages 63-72, Fall.
    20. Nicholas Oulton & Sylaja Srinivasan, 2003. "Capital stocks, capital services, and depreciation: an integrated framework," Bank of England working papers 192, Bank of England.

    More about this item

    Keywords

    national accounts; fixed capital; perpetual inventory method; consumption of fixed capital; depreciation pattern; average age of asset;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2012:y:2012:i:6:id:877:p:780-800. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.