Economic and statistical measurement of physical capital: From theory to practice

Escribá-Pérez, Francisco-Javier; Murgui-García, María-José; Ruiz-Tamarit, José Ramón

doi:10.1016/j.econmod.2018.06.023

Cited by 16 publications

(10 citation statements)

References 19 publications

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“…In any case, varying the parameter A in a range that gives rise to capital accumulation levels typical of advanced countries 12 , and/or varying the annual rate of technological obsolescence in a range between 0.05 and 0.08 (see Escribá-Pérez et al. 2018 ), and/or considering productivity in the range (0.25, 0.35) the results remain very close to those illustrated below. Moreover, considering that agents in every cell have access to the same production technology and the same consumption good, it is natural to assume that also the environmental damage parameter and the defensive expenditure efficiency parameter remain constant in all the cells of the lattice ( , ), as well as the externalities they generate on neighboring cells ( , ).…”

Section: The Model With Local Interactionssupporting

confidence: 69%

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Local environmental quality and heterogeneity in an OLG agent-based model with spatial externalities

Caravaggio

Sodini

2022

J Econ Interact Coord

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Most of the theoretical contributions on the relationship between economy and environment assume the environment as a good distributed homogeneously among agents. The aim of this work is to relax this hypothesis and to consider that the environment can have a local character even if conditioned through externalities by the choices made at the global level. In this article, we adapt the classical framework introduced in John and Pecchenino (Econ J 104(427):1393–1410, 1994) to analyze the dynamic relationship between environment and economic process, and we propose an OLG agent-based model where each agent perceives her own level of environmental quality determined by her own decisions, and by the decisions of those living around her. Despite the attention devoted to local environmental aspects, network externalities (determined through the scheme of Moore neighborhoods) play a fundamental role in defining environmental dynamics and they may induce the emergence of cyclical dynamics. The occurrence of oscillations in the local environmental quality is partially mitigated by the presence of heterogeneity in individuals’ preferences. Finally, when a centralized planner is introduced, the dynamics converge to stationary values regardless of the assumption on heterogeneity of agents.

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Section: The Model With Local Interactionssupporting

confidence: 69%

“…( 4 ) 0.33 Krueger ( 1999 ) and Gollin ( 2002 ) [0, 1] with See the description of the model [0, 1] with See the description of the model 0.7870898627 Escribá-Pérez et al. ( 2018 ) See main text (0, 1) See Eq. ( 1 ) …”

Section: The Model With Local Interactionsmentioning

confidence: 99%

Local environmental quality and heterogeneity in an OLG agent-based model with spatial externalities

Caravaggio

Sodini

2022

J Econ Interact Coord

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“…On the other hand, Levy (1995) estimated an approximate 5 per cent depreciation rate for 'Nonresidential Business Structures' for the 1948-1991 period in the U.S. This rate is slightly lower than the statistic depreciation rate estimated for the Spanish economy by Escribá-Pérez et al (2017), which ranged between 5.8 and 7.5 per cent for the period 1965-2011. Finally, Bond et al (2003) assume an 8 per cent depreciation rate for the case of a sample of German, British, Belgian and French manufacturing firms.…”

Section: Datamentioning

confidence: 75%

Knowledge Capital and Productivity in Spanish Industry

Gutiérrez¹,

Canal‐Domínguez

2020

REL

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This research is aimed at measuring the effects of firms’ knowledge capital stock changes in production, using the information provided by a panel of Spanish industrial firms. In order to assess the size of these effects depending upon the type of industry, we split the sample into two broad branches of business activity: Low and Medium-low (LML), and High and Medium-high (HMH) technological firms. Estimate outcomes show that the elasticity of output with respect to knowledge capital is always positive and significant. Moreover, the highest productivity gains derived from innovation are observed in High and Medium-high technological firms.

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“…The calculation of the capital depreciation rate is the main issue for measuring capital stock. At present, the main methods for calculating the depreciation rate include assuming the depreciation rate (Wu, 2000;Wang and Yao, 2003), estimating the depreciation rate by using the depreciation amount (Escribá-Pérez et al, 2018;Amir-ud-Din et al, 2019), econometric analysis (Hernández and Mauleón, 2005;Ning and Diewert, 2011) and the relative efficiency method (Zhang, 2008;Wu et al, 2014;Long and Herrera, 2016). However, the objectivity of assuming the depreciation rate method is poor, which can easily lead to "expected self-realization."…”

Section: Environmental Governance Efficiencymentioning

confidence: 99%

Research on China's Environmental Governance Mode: Quality Driven or Quantity Driven?

Chen²,

Zhao³

et al. 2022

Front. Environ. Sci.

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High-quality environmental governance (EG) is closely related to its governance mode. Nevertheless, few studies have examined the EG modes from the dual perspectives of quality and quantity. This article utilizes panel data of 30 Chinese provinces from 2003 to 2020 to research the influence of environmental governance efficiency (EGE) and investment (EGI) on EG through a fixed-effect mode. The outcomes show that China’s EG is driven mainly by quantitative EGI. EGE and EGI show significant geographic regions, economic development levels, resource endowments, and stage heterogeneity to EG. In light of these conclusions, this article argues that the future needs to reasonably allocate EGI based on consideration of the heterogeneity of geographical regions, economic development levels, and resource endowments to optimize EGI structure and increase EGE in each province to achieve high-quality EG.

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Economic and statistical measurement of physical capital: From theory to practice

Cited by 16 publications

References 19 publications

Local environmental quality and heterogeneity in an OLG agent-based model with spatial externalities

Local environmental quality and heterogeneity in an OLG agent-based model with spatial externalities

Knowledge Capital and Productivity in Spanish Industry

Research on China's Environmental Governance Mode: Quality Driven or Quantity Driven?

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