Measuring Capital Stocks and Capital Services in Switzerland

Summary This paper presents estimates of the aggregate net (wealth) capital stock and aggregate capital services for Switzerland. We derive these estimates in a consistent manner using the perpetual inventory method. Due to changes in data availability, the annual time series cover the period 1970–2005 for a 2-asset breakdown (equipment and structures) and 1990–2005 for a 12-asset breakdown (nine categories of equipment and three of structures). The sensitivity of the results is examined by varying assumptions on the initial capital stocks, the length of asset lives, the method for calculating service prices, and the choice of ICT deflators. The paper also presents quarterly measures of capital and estimates of capital services based on mid-year asset stocks.