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Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates

Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates

Chapter:
(p.479) 12 Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates
Source:
Measuring Capital in the New Economy
Author(s):
W. Erwin Diewert
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226116174.003.0013

This chapter provides a unified framework for the measurement of capital that addresses many of the issues and topics covered in the volume. It discusses some of the problems involved in constructing price and quantity series for both capital stocks and the associated flows of services when there are general and asset-specific price changes in the economy. This chapter also reviews the standard methods for measuring capital, examines a range of alternatives for the treatment of depreciation, and explores the role of quality change and how intangible assets stocks could be measured.

Keywords:   measurement of capital, capital stocks, price changes, depreciation, quality change, intangible assets

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