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A Compositional Statistical Analysis of Capital per Worker

Author

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  • Juan Manuel Larrosa

    (CONICET - Universidad Nacional del Sur)

Abstract

Most of economic literature has presented its analysis under the assumption of homogeneous capital stock composition. However, capital composition differs across countries. What has been the pattern of capital composition associated with World economies? I make an exploratory statistical analysis based on the Aitchinson logratio transformations and the related tools for visualizing and measuring statistical estimators of association among the components. As initial findings could be cited that: 1. It is observed a clear correlation in terms of capital stock participation between two building-industry- related components, 2. Manufacturing behaves differently, especially durable goods sector. 3. There are differences among subsamples.

Suggested Citation

  • Juan Manuel Larrosa, 2003. "A Compositional Statistical Analysis of Capital per Worker," Macroeconomics 0301006, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpma:0301006
    Note: Type of Document - Acrobat PDF; prepared on IBM PC; to print on HP; pages: 24 ; figures: included. 24 pages, postscript, prepared from MS Word - figures prepared from MS Excel
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0301/0301006.pdf
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    References listed on IDEAS

    as
    1. J. Bradford De Long & Lawrence H. Summers, 1991. "Equipment Investment and Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 445-502.
    2. Canning, David & Bennathan, Esra, 2000. "The social rate of return on infrastructure investments," Policy Research Working Paper Series 2390, The World Bank.
    3. John Aitchison & Michael Greenacre, 2002. "Biplots of compositional data," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 51(4), pages 375-392, October.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Nermina Mumic & Peter Filzmoser, 2021. "A multivariate test for detecting fraud based on Benford’s law, with application to music streaming data," Statistical Methods & Applications, Springer;Società Italiana di Statistica, vol. 30(3), pages 819-840, September.
    2. Tsagris, Michail & Preston, Simon & T.A. Wood, Andrew, 2016. "Improved classi cation for compositional data using the $\alpha$-transformation," MPRA Paper 67657, University Library of Munich, Germany.
    3. Michail Tsagris & Simon Preston & Andrew T. A. Wood, 2016. "Improved Classification for Compositional Data Using the α-transformation," Journal of Classification, Springer;The Classification Society, vol. 33(2), pages 243-261, July.
    4. Larrosa, Juan MC, 2005. "A Latent Budget Analysis Approach to Classification: Examples from Economics," MPRA Paper 12569, University Library of Munich, Germany.

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    More about this item

    Keywords

    compositional statistics; Aitchison logratio; capital structure; complementarities; comparative economics;
    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

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