Real Capital Input in OECD Agriculture: A Multinational Comparison

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Show simple item record San Juan, Carlos Ball, V. Eldon Butault, Jean-Pierre Nehring, Richard
dc.contributor.other Universidad Carlos III de Madrid. Departamento de Economía 2015-01-28T12:44:00Z 2015-01-28T12:44:00Z 2015-01-01
dc.identifier.issn 2340-5031
dc.description.abstract This paper provides a farm sector comparison of relative levels of capital input for seventeen OECD countries for the period 1973-2011. The starting point for construction of a measure of capital input is the measurement of capital stock. Estimates of depreciable capital are derived by representing capital stock at each point of time as a weighted sum of past investments. The weights correspond to the relative efficiencies of capital goods of different ages, so that the weighted components of capital stock have the same efficiency. The capital stocks of land are measured as implicit quantities derived from balance sheet data. We convert estimates of capital stock into estimates of capital service flows by means of capital rental prices. Implicit rental prices for each asset are based on the correspondence between the purchase price of the asset and the discounted value of future service flows derived from that asset. Finally, comparisons of levels of capital input among countries require data on relative prices of capital input. We obtain relative price levels for capital input via relative investment goods prices, taking into account the flow of capital input per unit of capital stock in each country.
dc.format.mimetype application/pdf
dc.relation.ispartofseries UC3M Working papers. Economics
dc.relation.ispartofseries 15-01
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.title Real Capital Input in OECD Agriculture: A Multinational Comparison
dc.type workingPaper
dc.rights.accessRights openAccess
dc.identifier.uxxi DT/0000001319
dc.identifier.repec we1501
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