Rates of Return and Capital Aggregation, Using Alternative Rental Prices (Classic Reprint) - Softcover
Synopsis
Five ways to price capital services and what it means for measuring productivity : This book examines how different rental price formulas shape estimates of multifactor productivity, a key metric for understanding economic growth.
The discussion centers on five alternative capital rental price measures and how each one affects the growth accounting of MFP. It also walks through a practical empirical comparison using a large data set across U.S. manufacturing industries, highlighting the implications for policy and research.
- How rental price formulas are derived from theory and used in practice
- What changes in asset prices, capital gains, and rates of return do to MFP estimates
- Three quantitative measures for comparing rental price approaches (composition, volatility, and negatives)
- Observed patterns across industries and time periods, with guidance for choosing a method
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About the Author
Charles R. Hulten is a professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research.
Edwin R. Dean, formerly an associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is an adjunct professor of economics at The George Washington University.
Michael J. Harper is the chief of the Division of Productivity Research at the Bureau of Labor Statistics.
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Rates of Return and Capital Aggregation, Using Alternative Rental Prices
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Paperback. Condition: New. Print on Demand. This book explores various methods to measure and value the input prices of capital in the context of multifactor productivity (MFP) measurement, a subject of crucial importance to economic theorists. Traditionally, capital input has been measured using its purchase price, a method which neglects depreciation and capital gains. The author shows how the expected rate of return and expected capital gains can be used as components in the rental price formula for capital assets to provide a more comprehensive measure of capital value over time. The author argues that correcting these historical shortcomings is crucial to understanding and measuring the complex dynamics of capital investment and productivity growth. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781330666609_0
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Rates of Return and Capital Aggregation, Using Alternative Rental Prices (Classic Reprint)
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330666609
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Rates of Return and Capital Aggregation, Using Alternative Rental Prices (Classic Reprint)
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