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Capital

R. C. O. Matthews, C. H. Feinstein, and J. C. Odling‐Smee

in British Economic Growth 1856-1973: The Post-War Period in Historical Perspective

Published in print:
1982
Published Online:
November 2003
ISBN:
9780198284536
eISBN:
9780191596629
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198284535.003.0005
Subject:
Economics and Finance, Economic History

The rate of growth of the domestic capital stock was markedly higher in the post‐war period than earlier. Differences between periods were due much more to differences in the investment‐income ratio ... More


Orthodox Growth Theories

Maurice FitzGerald Scott

in A New View of Economic Growth

Published in print:
1991
Published Online:
November 2003
ISBN:
9780198287421
eISBN:
9780191596872
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198287429.003.0003
Subject:
Economics and Finance, Development, Growth, and Environmental

Orthodox growth theories generally assume a neoclassical production function, with growth of output explained by increases in the capital stock or employment, or by shifts in the function attributed ... More


The United States Capital Stock, 1840–1900

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0003
Subject:
Economics and Finance, Economic History

This chapter describes and analyzes Gallman’s estimates of the value of the United States fixed capital stock (in current prices and in 1860 prices) at decade intervals, from 1840 to 1900. It ... More


Factor Shares and Resource Booms: Accounting for the Evolution of Venezuelan Inequality

Francisco RodrÍguez

in Inequality Growth and Poverty in an Era of Liberalization and Globalization

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271412
eISBN:
9780191601255
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271410.003.0013
Subject:
Economics and Finance, Development, Growth, and Environmental

This is the second of five country case studies on income inequality, and shows that income inequality in Venezuela has significantly worsened during the past 27 years; in particular, the worsening ... More


The Rate of Return

Maurice FitzGerald Scott

in A New View of Economic Growth

Published in print:
1991
Published Online:
November 2003
ISBN:
9780198287421
eISBN:
9780191596872
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198287429.003.0007
Subject:
Economics and Finance, Development, Growth, and Environmental

Three different proofs are given of a formula for the rate of return to investment in the growth model. Formulae are also derived for the rate of depreciation of the firm's capital stock (cumulative ... More


Capital and American Economic Growth, 1774–1980

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0004
Subject:
Economics and Finance, Economic History

This chapter places Gallman’s estimates of the value of the United States fixed capital stock, from 1774 to 1840 into the large context. The chapter discusses using the changes in the capital stock ... More


The Economic Impact of Information and Communication Technology in Korea

KUK-HWAN JEONG, JEONG HUN OH, and ILSOON SHIN

in Information Technology, Productivity, and Economic Growth: International Evidence and Implications for Economic Development

Published in print:
2001
Published Online:
October 2011
ISBN:
9780199243983
eISBN:
9780191697319
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199243983.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

In line with how our society is undergoing a transition towards a more information and knowledged-based society, questions have been raised regarding the contributions of investing on information and ... More


Growth Concepts

Maurice FitzGerald Scott

in A New View of Economic Growth

Published in print:
1991
Published Online:
November 2003
ISBN:
9780198287421
eISBN:
9780191596872
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198287429.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

In a completely static economy, expenditures would be needed to maintain and replace assets (required maintenance) and the whole of income would be consumed. When part of income is spent on making ... More


Investment Flows and Capital Stocks

Robert E. Gallman, Paul W. Rhode, Robert E. Gallman, and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0006
Subject:
Economics and Finance, Economic History

This chapter compares the two ways to estimate the value of the capital stock: by cumulating investment flows, following the perpetual inventory procedures developed by Raymond Goldsmith (1955); or ... More


Robert Gallman’s Capital Stock Project

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0001
Subject:
Economics and Finance, Economic History

This chapter introduces Gallman’s capital stock project. It traces its origin and evolution. It relates several of Gallman’s key observations about the pace and pattern of US economic growth.in the ... More


Capital in the Nineteenth Century

Robert E. Gallman and Paul W. Rhode

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
book
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.001.0001
Subject:
Economics and Finance, Economic History

A nation’s capital stock is widely recognized as a crucial determinant of the productivity of its workers and the standard of living of its citizens. Tracking the evolution of capital is therefore a ... More


Gallman’s Core Capital Stock Data

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0002
Subject:
Economics and Finance, Economic History

The chapter presents Gallman’s core data on the capital stock from 1774 to 1900. The data include the current-price series, the constant-price (in 1860 dollars) series, and the implicit price ... More


Economic Implications of the ‘Revolution’

Michio Morishima

in Theory of Economic Growth

Published in print:
1969
Published Online:
November 2003
ISBN:
9780198281641
eISBN:
9780191596667
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281641.003.0006
Subject:
Economics and Finance, Development, Growth, and Environmental

The neoclassical model so far examined in the book assumes, among other things: (a) that firms can be classified into two or several industries, each producing a single output; (b) that capital goods ... More


The Determinants of the Share of Investment in Output and the Complete Growth Model

Maurice FitzGerald Scott

in A New View of Economic Growth

Published in print:
1991
Published Online:
November 2003
ISBN:
9780198287421
eISBN:
9780191596872
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198287429.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

Equations to determine the rate of investment are needed to close the model of Ch. 6. There seems to be no generally accepted theory of long‐run saving and investment. The capital stock adjustment ... More


Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates

W. Erwin Diewert

in Measuring Capital in the New Economy

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226116129
eISBN:
9780226116174
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226116174.003.0013
Subject:
Economics and Finance, Econometrics

This chapter provides a unified framework for the measurement of capital that addresses many of the issues and topics covered in the volume. It discusses some of the problems involved in constructing ... More


Micro and Macro Data Integration: The Case of Capital

Randy A. Becker, John Haltiwanger, Ron S. Jarmin, Shawn D. Klimek, and Daniel J. Wilson (eds)

in A New Architecture for the U.S. National Accounts

Published in print:
2006
Published Online:
February 2013
ISBN:
9780226410845
eISBN:
9780226410876
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226410876.003.0013
Subject:
Economics and Finance, Economic Systems

This chapter focuses on the empirical basis for the allocation of investment flows by industry and by asset. It suggests that inconsistencies between industry and asset measures of capital and firm ... More


R&D in the National Income and Product Accounts: A First Look at Its Effect on GDP

Barbara M. Fraumeni and Sumiye Okubo

in Measuring Capital in the New Economy

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226116129
eISBN:
9780226116174
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226116174.003.0009
Subject:
Economics and Finance, Econometrics

This chapter examines the impact of research and development on gross national product (GDP) and on national income and product accounts (NIPAs). It discusses how an R&D capital stock could be ... More


Mining and Manufacturing

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0008
Subject:
Economics and Finance, Economic History

This chapter focuses on Mining and Manufacturing, detailing Gallman’s estimation of the current-price and constant-price (1860) values of the capital stock on a decadal basis from 1840 to 1900. It ... More


Consumer Durables

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0013
Subject:
Economics and Finance, Economic History

This chapter opened a window into Gallman’s stock data on consumer durables. It has offered his arguments regarding the quantitative and qualitative importance of these goods in the “long” nineteenth ... More


Wrapping Up

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0015
Subject:
Economics and Finance, Economic History

This chapter wraps up, providing brief summary thoughts about Gallman’s scholarship and the role of capital accumulation in economic growth.


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