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411301775371

# 411301775371 - Methodology for Compilation of Multifactor...

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Methodology for Compilation of Multifactor Productivity I. Compilation of Capital Productivity Statistics 1. Estimation of Capital Stock The approaches used to estimate capital stock are listed as follows: Direct Estimation Method Perpetual Inventory Method Benchmark-year Method Benchmark Extrapolation Method Average Depreciation Method Polynominal-benchmark Method Indirect Estimation Method Estimation by Production Function and Capital Stock at the Same Time Estimation by Investment Function and Depreciation Pattern at the Same Tim In this report, the benchmark extrapolation method is adopted to estimate the capital stock,with the benchmark-year being designated as those when each industrial and commercial censustook place and 1988 when the national wealth census was conducted. Please see the “ Study onStatistical Measurement of Capital Productivity in Taiwan Area “ , published by the DGBAS, for details of the estimation method. Key points of the method are briefly introduced as follows: (1) Estimation of Gross Fixed Capital Stock: GK (t) = GK (t-1) + I(t) where GK(t) refers to the amount of fixed capital stock in t period(2) Estimation of Net Fixed Capital Stock: (2) Estimation of Net Fixed Capital Stock: NK(t) = NK(t-1) + I(t) – D(t) where NK(t) refers to the amount of net fixed capital stock in t period l(t) refers to the amount of real gross fixed capital formation in t period D(t) refers to real fixed capital depreciation in t period.

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411301775371 - Methodology for Compilation of Multifactor...

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