Standardized capital stock estimates for the Greek economy 1948–2020

Costas Passas

Structural Change and Economic Dynamics, 2023, vol. 64, issue C, 236-244

Abstract: In this study we present new estimates of the capital stock of the Greek economy for the period 1948 to 2020 using the Perpetual Inventory Method (PIM). Asset detail is at the fourth digit level for construction and equipment and at the third digit level for all other assets. Our estimates are derived using the OECD methodology from National Accounts data on gross fixed capital formation coupled with a number of official and semi-official publications. The results are subjected to a sensitivity analysis by varying estimates of a number of critical magnitudes. Our results indicate the significance of measurement and estimation issues, especially the choice of survival functions and age-efficiency profiles, for the implementation of the PIM approach and therefore for the estimation of key macroeconomic variables such as the capital–output ratio.

Keywords: Capital stock; Perpetual inventory method; Capital–output; Greek economy; Historical statistics (search for similar items in EconPapers)
JEL-codes: C82 E22 O52 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0954349X22001758
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:64:y:2023:i:c:p:236-244

DOI: 10.1016/j.strueco.2022.12.009

Access Statistics for this article

Structural Change and Economic Dynamics is currently edited by F. Duchin, H. Hagemann, M. Landesmann, R. Scazzieri, A. Steenge and B. Verspagen

More articles in Structural Change and Economic Dynamics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().