ESTIMATES OF THE AGGREGATE QUARTERLY CAPITAL STOCK FOR THE POST-WAR U.S. ECONOMY

Daniel Levy () and Haiwei Chen

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Abstract: We construct quarterly aggregate gross and net capital stock series for the postwar U.S. economy using annual capital stock, capital depreciation, and capital discard figures along with quarterly investment series. We construct nominal and real measures of all three categories in the aggregate capital stock: consumer durable goods, producer durable goods, and business structures. In constructing the nominal series we take into account the changes in capital goods' prices. The series are constructed using four different methods. Using time-and frequency domain techniques, we compare the constructed series and characterize their short-run, business cycle, and long-run cyclical properties. We find that the constructed series exhibit very different cyclical and shock persistence dynamics. Practical implications are discussed.

Keywords: Capital Stock; Consumer Durable Goods; Producer Durable Goods; Business Structures; Capital Depreciation and Discard; Capital Goods Prices; Frequency Domain; Cyclical Behavior; Linear Interpolation; Numerical Iteration (search for similar items in EconPapers)
Date: 1994-09
Note: View the original document on HAL open archive server: https://hal.science/hal-02382769
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Published in Review of Income and Wealth, 1994, 40 (3), pp.317-349. ⟨10.1111/j.1475-4991.1994.tb00072.x⟩

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Related works:
Working Paper: Estimates of the Aggregate Quarterly Capital Stock for the Post- War U.S. Economy (2005)
Journal Article: ESTIMATES OF THE AGGREGATE QUARTERLY CAPITAL STOCK FOR THE POST‐WAR U.S. ECONOMY (1994)
Journal Article: Estimates of the Aggregate Quarterly Capital Stock for the Post-War U.S. Economy (1994)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02382769

DOI: 10.1111/j.1475-4991.1994.tb00072.x

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