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Publications
WP-EC 1996-02
Una estimación econométrica del stock de capital de la economía española
Denia, A., Gallego, A.M. and Mauleón, I.
Year of publication: 1996
Keywords: Production functions, estimation of depreciation rate, initial capital stock
Abstract
This paper obtains a series of aggregate capital stock for the Spanish economy, in which for this calculation, the depreciation average was previously estimated as an additional parameter in a production function. Although the result when including the parameter in a production function is clearly not linear, a method of simplification is presented by means of an iterative procedure. In respect to the estimation of the initial capital stock, and due to its unrecognizableness, an alternative method is developed for its calculation. The results of this paper offer a value for the rate of depreciation greatly different from the ones commonly used.