The Stock of Intangible Capital in Canada.

The Stock of Intangible Capital in Canada.

This paper measures the size of the stock of intangible capital in Canada using newly released data on the market value of all securities in the economy. The approach taken relies on a quantitative application of the q-theory of investment to generate the quantity of capital owned by firms. I find t...

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Bibliographic Details
Main Author: Belhocine, Nazim
Format: eBook
Language:English
Published: Washington : International Monetary Fund, 2009.
Series:IMF Working Papers.
Subjects:
Capital market > Canada.
Securities > Canada.
Capital market
Economic policy
Securities
Canada > Economic policy.
Canada
Online Access:Click for online access
Table of Contents:
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Relationship to Related Literature; III. Methodology; A.A Quantitative Approach to the q-theory; B. Empirical Strategy; 1. Parameter Values; IV. Data Description; 1. Shares and Bonds at Book and Market Value; 2. Accounting Balance Sheet; 3. Modified Accounting Framework; V. Results; 2. Quantity and Shadow Price of the Inferred Capital Stock; 3. Decomposition of the Aggregate Value of Firms (in billions of 1997 dollars); 4. Ratio of Intangible Capital Stock to the Inferred Capital Stock.
  • 5. The Part of R & D in the Unrecorded Intangible Capital Stock (in billionsVI. Sensitivity Analysis; A. Allowing for Different Adjustment Cost Parameters; 6. Sensitivity to Various Adjustment Costs of the Ratio of Intangible Capital to the Inferred Capital Stock; B. Allowing for Different Depreciation Rates; 7. Sensitivity of the Ratio of Intangible Capital to the Overall; C. Allowing for Different Initial Values; 8. Sensitivity of the Intangible Capital Stock to Various Initial Values; VII. Conclusion; Appendix: Data Sources and Manipulations.
  • 4. Financial Assets and Liabilities at Market ValueReferences; Footnotes.

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