00000nam 2200000za 4500 9.847614 CaOODSP 20221107153500 cr ||||||||||| 171123s1994 onc |o f|0| 0 eng d CaOODSP eng n-cn--- CS15-602/66E-PDF Durand, René. On the measurement of capital services and economic efficiency [electronic resource] / by René Durand. Rev. ed. [Ottawa] : Statistics Canada, 1994. 17 p. Technical series ; no. 66 Digitized edition from print [produced by Statistics Canada]. "September 1993, revised March and September 1994." Includes bibliographic references. "This article shows that the traditional assumption of proportionality between capital services and the capital stock made in the applications of production theory is generally not warranted. The article proposes a generalized measure of capital services which admits the traditional assumption only as a special case. Namely, it is argued that the proportionality factor between capital services and the capital stock is a function of both the real interest rate and the economic depreciation rate. Neglecting to take variations in either of these rates into account is shown to lead to paradoxical results. The common notion of economic efficiency is also extended to take the accumulation of wealth into account within a simplified dynamic framework. This sheds new light on the debated choice between the gross and the net of depreciation measure of aggregate output. The theoretical developments made in this article would support the net view"--Abstract. gccst Economic statistics gccst Capital Canada. Statistics Canada. Input-Output Division. Technical series (Statistics Canada. Input-Output Division) no. 66 (CaOODSP)9.835263 PDF 5.75 MB https://publications.gc.ca/collections/collection_2017/statcan/15-602/CS15-602-66-eng.pdf 15-602 no. 66