Koji Nomura, Measurement of Capital and Productivity in Japan, Keio University Press, 2004

Table of Contents

Prologue

Chapter 1: Measurement of Capital

1: Capital, Technology, and Quality

1(1): Capital and Production Process, 1(2): Technology and Embodiment, 1(3): Measurement Unit and Quality, 1(4): Quality Change on Embodied Technology, 1(5): Quality Change on Aging, 1(6): Capital Stock and Efficiency Distribution

2: Dual Approach of Capital

2(1): Capital Service, 2(2): Acquisition Prices and Service Price, 2(3): Capital Value, 2(4): Aggregation of Heterogeneous Capital

Chapter 2: Capital Stock

1: Concepts and Measurement of Capital Stock

1(1): Capital Stock Concepts, 1(2): Capital Stock Statistics in Japan and Its Problem, 1(3): International Comparison of Measurement of Capital Stock

2: Fixed Capital Formation Matrix

2(1): Gross Fixed Capital Formation, 2(2): Concepts of Capital in SNA93, 2(3): Boundary of Intangible Capital, 2(4): Measurement

3: Fixed Capital Stock Matrix

3(1): Methodology of Measurement, 3(2): Measurement of Depreciation Rate by Polynomial Benchmark Method, 3(3): Measurement of Depreciation Rate based on Rental Residence Price, 3(4): Measurement of Depreciation Rate based on Second-hand Vehicle Price, 3(5): Depreciation of Infrastructure, 3(6): Depreciation by Asset

4: Measurement Results

4(1): Aggregate Capital Stock, 4(2): Coefficient and Productivity of Capital Stock, 4(3): Composition of Assets, 4(4): Capital Accumulation by Industry

Chapter 3: Capital Service Price

1: Tax and Capital Service Price

1(1): Measurement of Capital Service Price, 1(2): Corporate Finance, 1(3): Corporate Income Tax, 1(4): Business Income Tax, 1(5): Acquisition Tax, 1(6): Property Tax, 1(7): Allowance and Reserve, 1(8): Special Depreciation, 1(9): Total Formulation of Tax Structure on Capital

2: Measurement of Capital Service Price

2(1): Price and Quantity of Capital Service, 2(2): Legal and Actual Tax Rates, 2(3): Corporate Income Tax Rates, 2(4): Business Income Tax Rates, 2(5): Acquisition Tax Rates, 2(6): Property Tax Rates, 2(7): Use Rates of Allowance and Reserve, 2(8): Use Rates of Special Depreciation, 2(9): Depreciation Rate in Business Accounts, 2(10): Weighted Average Rate of Return, 2(11): Capital Compensation

3: Measurement Results: Rate of Return and Capital Service Price

3(1): Implicit Deflator as Uncontrolled Measurement, 3(2): Rate of Return on Capital and Capital Service Price, 3(3): Rate of Return by Industry, 3(4): Capital Service Price by Asset and by Industry

4: Purchasing Power Parities for Capital Service

4(1): Relative Price and PPP, 4(2): Relative Price of Capital Stock, 4(3): Relative Price of Capital Service

Chapter 4: Capital Service and Economic Growth

1: Capital Service Input

1(1): Economic Growth and Capital Service, 1(2): Stock, Service, and Quality, 1(3): Composition of Capital Service, 1(4): Allocation of Capital Service

2: Economic Growth and Productivity

2(1): Total Factor Productivity and Its Aggregation, 2(2): Decomposition of Economic Growth, 2(3): Capital Deepening and Productivity

3: Comparison of Economic Growth in the U.S and Japan

3(1): Economic Level and Growth, 3(2): TFP-Gap by Industry, 3(3): Price Competitiveness, 3(4): Labor Productivity Gap and Capital Deepening

Chapter A: Private Gross Fixed Capital Formation Matrix

1: Aggregate GFCF, 2: Capital Formation by Commodity, 3: Capital Formation by Industry, 4: Private GFCF Matrix

Chapter B: Public Gross Fixed Capital Formation Matrix

1: Methods and Classification, 2: Capital Formation by Industry, 3: Infrastructure, 4: Public GFCF Matrix

Chapter C: Inventory Stock

1: Stock and Increase of Inventry, 2: Inventory Stock by Type of Asset, 3: Inventory Stock in Corporate Sector, 4: Inventory Stock in Non-Corporate Sector, 5: Measurement Results

Chapter D: Land Stock

1: Land and Its Quality, 2: Land Stock by Type of Use, 3: Land Stock by Industry, 4: Measurement Results

Epilogue