Bibliographic data
Works
- Document type:
- Works
- Collection:
- Josef Steindl Collection
- Title:
- Capital Gains in Economic Theory and National Accounting
- Scope:
- Typoskript, 13 Blätter, mit handschriftlicher Ergänzung auf Seite 1 sowie handschriftlicher Paginierung (beides nicht vom Verfasser)
- Year of publication:
- 1992
- Language:
- English
- Description:
- The national accounts do not know capital gains as they do not deal with assets and consider only the relations of flows in one year. Steindl states that modern economics manages practically to ignore the theoretical relevance of capital gains. Steindl argues that a rise in land or share values creates savings just like real investment and that the exclusion of capital gains from national accounts has led to glaring misinterpretations of the data (distortion of the savings rate). He suggests to introduce separate accounts for capital gains, consumer's credit and investment. Furthermore he explains the macroeconomic implications of creating capital gains.
- Note:
- Der vorliegenden Text wurde post mortem (1998) mit geringfügigen Änderungen publiziert.
- Related work:
- Steindl, Josef: Capital Gains in Economic Theory and National Accounting. In: Banca Nazionale del Lavoro Quarterly Review, Vol. 51, Issue 207, December 1998, S. 435-449
- Topic:
- Economic history,economic theory,current developments
- JEL Classification:
- E22 [Investment, Capital, Intangible Capital, Capacity] E01 [Measurement and Data on National Income and Product Accounts and Wealth, Environmental Accounts]
- Shelfmark:
- S/M.78.1
- Rights of use:
- All rights reserved
- Access:
- Free access
