The Health Facilities Enhancement Program (HFEP) is a capital investment grant administered by the Department of Health (DOH), designed to help local government units (LGUs) augment their health infrastructure, such as primary healthcare facilities, hospitals, and equipment. Over the past...

The Health Facilities Enhancement Program (HFEP) is a capital investment grant administered by the Department of Health (DOH), designed to help local government units (LGUs) augment their health infrastructure, such as primary healthcare facilities, hospitals, and equipment. Over the past...

This article examines the rate of profit and related variables in classical political economy by utilizing updated and revised estimates of production, non-production activities, employment, and gross capital stock for the US economy over the period 1950-2022. This article argues that employing...

Greece's investment rate plunged following the Sovereign Debt Crisis (SDC) and remained one of the lowest in the world in 2019. This paper explores recent investment dynamics and compares them against estimated benchmarks. Our results suggest that Greece has been under-investing since the SDC,...

Natural disasters can cause substantial damage to public and private sector infrastructure capital, generating macroeconomic losses through complex channels. These shocks must be managed and accounted for with macrofiscal and monetary policy to minimize their welfare impacts. To support this...

The recent debates on infrastructure spending have led to renewed interest in the measurement of infrastructure and its effects on growth and well-being. This paper updates estimates of one important type of infrastructure capital—highways and streets. We compare BEA's capital measures with...

This paper builds on a previous paper by the authors (Kornfeld and Fraumeni, 2022) that primarily used U.S. Federal Highway Administration Highway Statistics data to disaggregate investment in highways and streets into more detailed types to produce updated estimates of net wealth stocks and...

This paper aims to fill a gap in the literature on capital formation in China by estimating the capital stock in four economic sectors: business, infrastructure, government, and housing. Such a breakdown is necessary for the purpose of analysis of economic development in China, as the normal...

This research paper investigates interactions of human capital, capital goods import and economic growth with a panel of 13 West African countries comprises of 7 low income and 6 low-middle income countries over the period of 1980-2018. The study adopts the Panel Auto-Regressive Distributed Lag...

The covid-19 pandemic has been devastating for small businesses, being responsible for an abrupt fall in demand, interruption of economic activities, and, in many cases, bankruptcy of numerous enterprises. Data from Brazilian Institute of Geography and Statistics (IBGE) indicate that, until June...

Most studies of total factor productivity (TFP) and long-term production functions use capital stock time series obtained from ad hoc estimates of the rate of depreciation and the initial capital stock. This paper introduces a methodology that allows the simultaneous econometric estimation of...

Digitalisation has become one of the core concepts in European modernisation. Whileinvestment in computer hardware, telecommunications equipment, software and databaseshas increased over the years, the degree of modernity of the overall capital stock has not.This paper examines whether there is...

Digitalisation has become one of the core concepts in European modernisation. Whileinvestment in computer hardware, telecommunications equipment, software and databaseshas increased over the years, the degree of modernity of the overall capital stock has not.This paper examines whether there is...

The covid-19 pandemic has been devastating for small businesses, being responsible for an abrupt fall in demand, interruption of economic activities, and, in many cases, bankruptcy of numerous enterprises. Data from Brazilian Institute of Geography and Statistics (IBGE) indicate that, until June...

We develop an analytically tractable model of optimal financing policies for a risk averse decision maker who is exposed to climate risk causing a significant disruption to capital stock accumulation. We quantitatively identify certain thresholds of cash-capital ratio explicitly characterizing...

We pose the problem of managing the interstate as an optimal capital stock problem and define user cost as the charge per vehicle mile travelled that rationalizes observed investments in lane miles and pavement quality. We find that user cost is the sum of the opportunity cost of lane miles,...

This article discusses the aggregation problem and its implications for ecological economics. The aggregation problem consists of a simple dilemma: when adding heterogeneous phenomena together, the observer must choose the unit of analysis. The dilemma is that this choice affects the resulting...

This paper describes the methodology used in the OECD Economics Department to produce historical estimates and short-run projections of potential output. These estimates are used mainly in the OECD Economic Outlook, in country surveys and as starting point for long-run scenarios. Total-economy...

This short note shows that accounting for capital adjustment is critical when analyzing the long-run effects of trade wars on real wages and consumption. The reason is that trade wars increase the relative price between investment goods and labor by taxing imported investment goods and their...

Capitalism's critics and defenders tend to talk past one another because they understand the term differently. “Capitalism,” according to James M. Buchanan (2005:29), is an “unfortunate but widely used term again loosely described in terms of the range and scope for individual liberty...

The effects that the Latin America and Caribbean capital stock (public and private) had on the income inequality levels of 18 countries from this region were analyzed, over a period ranging from 1995 to 2017, recurring to an autoregressive distributed lag model in the form of an unrestricted...

According to the Oxford English Dictionary, the term capitalism refers to: “The possession of capital or wealth; an economic system in which private capital or wealth is used in the production or distribution of goods and prices are determined mainly in a free market; the dominance of private...

When considering that increasing CO2 emissions are one of the most important reasons for global warming, the prospect for energy transition emerges as a significant way to combat this issue. Although there is a high correlation between CO2 emissions and fossil fuel consumption, nonrenewable...