Capital Services in U.S. Agriculture: Concepts, Comparisons, and the Treatment of Interest Rates
回顾了资本服务流量的测量方法，比较了美国农业资本投入的两组数据，发现固定利率比年度市场利率能更合理地估算资本使用量和生产率。
This paper begins with a review of the methods and assumptions used to measure capital service flows. Two data series on capital inputs in U.S. agriculture are briefly described and compared. We show that measures of capital services are sensitive to the treatment of interest rates. Notably, the use of fixed versus variable market rates significantly affects measures of the quantity and productivity of agricultural capital in the United States. We conclude that when calculating capital usage in U.S. agriculture, the use of a fixed interest rate generates more plausible estimates than the use of an annual market rate.