 Alternative User Costs, Productivity and Inequality in US Business SectorsA chapter in Productivity and Inequality, 2018, pp 21-69 from Springer Abstract: Abstract Using the new Bureau of Economic Analysis (BEA) Integrated Macroeconomic Accounts as well as other BEA data, we construct productivity accounts for two key sectors of the US economy: the Corporate Nonfinancial Sector (Sector 1) and the Noncorporate Nonfinancial Sector (Sector 2). Calculating user costs of capital based on, alternatively, ex post and predicted asset price inflation rates, we provide alternative estimates for capital services and Total Factor Productivity growth for the two sectors. Rates of return on assets employed are also reported for both sectors. In addition, we compare rates of return on assets employed and TFP growth rates when the land and inventory components are withdrawn from the asset base. Finally, implications for labour and capital shares from using alternative income concepts are explored. Keywords: User cost of capital; Total Factor Productivity; Rate of return on assets; Integrated Macroeconomic Accounts; Bureau of Economic Analysis; Ex post and ex ante asset inflation rates; US Nonfinancial Sector; Austrian model of production; Balancing rates of return; Inequality (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-68678-3_2 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-68678-3_2 Access Statistics for this chapter More chapters in Springer Proceedings in Business and Economics from Springer |
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