Estimating Capital Inputs for Productivity Measurement: An Overview of U.S. Concepts and Methods

Michael J. Harper

International Statistical Review, 1999, vol. 67, issue 3, 327-337

Abstract: The U.S. Bureau of Labor Statistics (BLS) publishes measures of multifactor productivity, which are patterned after the Solow residual. Inputs of capital must be aggregated with inputs of labor. The theory requires a measure of the capital service flow, a rather abstract notion which is rarely observable. The BLS procedures for capital measurement are summarized, and the rationale for these procedures is explored. Implicit measures of capital services are derived from data on property income and data on historical investments which are detailed as to type of asset. Le Bureau of Statistics des Etats‐Unis(BLS) publie des masures de productivité totale des facteurs, qui sont dérivécs du résidu de fonctions de production de Solow. Ceci revient à agréger les intrants de capital et ceux de travail. La théorie requiert la mesure du flux de service rendu par le capital, une notion plutoôt abstraite qui est rarement observable. Cet article indique de facon résumée les procédures de mesure du capital utilisées par le BLS et en examine la logique. Des mesures impplicites du service du capital sont déduites de données sur les revenus de la propriété et données chronologiques sur les investissements, détaillés par de biens.

Date: 1999
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