Research Report etc. No.04-3
JIP Database Series No.3
Paper on an estimation method of capital stocks
by industry and by type of capital goods in the JIP Database
July, 2003
- Tsutomu Miyagawa
- (Professor, Faculty of Economics, Gakushuin University;
Visiting Fellow, Economic and Social Research Institute, Cabinet Office)
- Tomohiko Inui
- (Professor, College of Economics, Nihon University;
Visiting Fellow, Economic and Social Research Institute, Cabinet Office)
- Kazuyoshi Nakata
- (Economic and Social Research Institute, Cabinet Office)
- Naoki Okumura
- (Sumitomo Life Insurance Company)
- Sumio Hamagata
- (Policy and Planning Sciences, University of Tsukuba )
- (Hyeog Ug Kwon
- Hitotsubashi University)
- (Tatsuji Makino
- Chuo University)
- (Wenju Chen
- Lecturer, College of International Relations, Nihon University)
- (Inyong Shin
- Tokyo Metropolitan University)
The full text is written in Japanese.
(Abstract)
In this paper, we estimate real net capital stocks by industry and by type of capital goods for the period from 1970 to 1998. The data cover 83 sectors, including the government service sectors, and 37 types of capital goods.
We begin by estimating the net capital stock in 1970 as a benchmark. For the capital stocks from 1971 to 1998, we apply the benchmark year method by making use of the series for annual capital formation by industry and by type of capital goods and a constant depreciation rate for each type of fixed capital stock. The depreciation rates are obtained from the US Bureau of Economic Analysis.
After estimating nominal capital stocks by industry and by capital goods, we convert the nominal series into real series at 1990 prices by using deflators we estimated.