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Estimating non-financial assets by institutional sector for the euro area

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  • Hofmeister, Zlatina
  • der Helm, Ruben van

Abstract

Official euro area-wide statistics on the capital stock and its breakdowns by asset type and sector are not yet available, but would be very useful for economic and financial stability analysis. This paper proposes a constrained optimisation model with the help of which a full cross-sector classification of the capital stock by non-financial asset type can be estimated. The model is applied for the estimation of the capital stock by institutional sector, including households’ non-financial asset types and housing wealth, both for the euro area as a whole and for euro area countries currently not estimating and/or publishing such data. JEL Classification: C33, C82, E02, E22

Suggested Citation

  • Hofmeister, Zlatina & der Helm, Ruben van, 2017. "Estimating non-financial assets by institutional sector for the euro area," Statistics Paper Series 23, European Central Bank.
    • Handle: RePEc:ecb:ecbsps:201723
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    2. Dimitrios Sideris & Georgia Pavlou, 2021. "Disaggregate income and wealth effects on private consumption in Greece," Working Papers 293, Bank of Greece.

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    More about this item

    Keywords

    capital stock; constrained optimisation; euro area; households’ housing wealth; institutional sector; Perpetual Inventory Method;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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