Methods explained: Perpetual Inventory Method (PIM)

Sumit Dey-Chowdhury
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Sumit Dey-Chowdhury: Department for Business, Enterprise & Regulatory Reform

Economic & Labour Market Review, 2008, vol. 2, issue 9, 48-52

Abstract: Outlines where it is used within ONS and discusses the key parameters of a PIMThis article outlines where the perpetual inventory method (PIM) is used within the Office for National Statistics and discusses in detail the key parameters of a PIM; the asset service life, the retirement distribution and the depreciation function. It covers why these parameters are of importance in the application of a PIM and also highlights some of the key related conceptual issues. The article then concludes with an example illustrating how a PIM can be used to estimate gross capital stock, consumption of fixed capital and net capital stock, which are the principal uses of a PIM. Economic & Labour Market Review (2008) 2, 48–52; doi:10.1057/elmr.2008.124

Date: 2008
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