RT Generic
T1 Real Capital Input in OECD Agriculture: A Multinational Comparison
A1 San Juan, Carlos
A1 Ball, V. Eldon
A1 Butault, Jean-Pierre
A1 Nehring, Richard
A2 Universidad Carlos III de Madrid. Departamento de Economía, 
AB 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.
SN 2340-5031
YR 2015
FD 2015-01-01
LK https://hdl.handle.net/10016/19957
UL https://hdl.handle.net/10016/19957
DS e-Archivo
RD 18 may. 2024