Reconstructing Annual Plant-Level Assets

Federico Esposito and Anurag Pandey

CES Technical Notes Series from Center for Economic Studies, U.S. Census Bureau

Abstract: This report describes a procedure to construct an annual plant-level series of gross depreciable assets for plants in the Longitudinal Business Database (LBD) between 2000 and 2022. An important data constraint that researchers face is that employment is observed annually for the universe of plants from the LBD, while gross depreciable assets, investment and retirements are observed only in Census/survey years and only for a subset of plants. Our novel procedure combines annual employment, estimated natural disaster effects, and Census-year information on investment and retirements to impute the annual flow components that move the capital stock. The final series is rescaled to match the asset intensity, defined as the asset-to-employment ratio, observed in Census years. The report also proposes a number of validation exercises.

Keywords: LBD; CMF (search for similar items in EconPapers)
Date: 2026-07
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