Capital Service Flows: Concepts and Comparisons of Alternative Measures in U.S. Agriculture

Matthew A. Andersen, Julian Alston and Philip Pardey

No 50098, Staff Papers from University of Minnesota, Department of Applied Economics

Abstract: Measures of capital services are used in studies of production and to inform policies related to growth and development. A variety of methods have been used to measure capital stocks and service flows. In this study we review methods commonly used to measure capital service flows, and outline important assumptions used in constructing such measures. We examine two recently constructed data sets that measure capital inputs in U.S. agriculture. Substantial differences in the measures appear to have been caused by the use of a fixed real interest rate versus a variable real market interest rate to calculate capital services.

Keywords: Agricultural and Food Policy; Agricultural Finance; Productivity Analysis (search for similar items in EconPapers)
Pages: 37
Date: 2009-05
New Economics Papers: this item is included in nep-eff
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:50098

DOI: 10.22004/ag.econ.50098

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