• 论文 •

### 中国资本服务测算及其稳健性研究

• 出版日期:2017-10-15 发布日期:2017-10-25

### Capital Services Measure and its Robustness Research in China

Ji Qingwei

• Online:2017-10-15 Published:2017-10-25

Abstract: The paper uses average age efficiency, each type of assets’ initial stock and PIM to estimate productive stock, and based on that constant quality factor and the T?rnqvist index weight are introduced to measure China’s capital service from 1985 to 2014. The results show that each type of assets’ capital service flow measured by geometric efficiency is less than that of hyperbolic efficiency. The non-residential and residential buildings’ service flow take respectively the first and the second place in 9 types of capital, and the two’s aggregate real service growth rates which are fluctuating between 8%-18% are remarkably higher than those of equipment and intangible capital. The real growth rates of the aggregate capital service are much higher than those of the aggregate buildings and present periodic volatility, and further more the growth trend of the aggregate capital service is similar between the geometric and hyperbolic efficiency. Finally robustness test of the capital service relative errors between parameter combinations under comparable caliber is done. It is found that the errors under average age efficiency are much bigger than other combinations’ and the results are more stable in the same efficiency form.