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THE STOCK OF CONSUMER DURABLES IN THE UNITED KINGDOM: NEW ESTIMATES 1948–95
Author(s) -
Williams Geoffrey
Publication year - 1998
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.1998.tb00290.x
Subject(s) - economics , stock (firearms) , econometrics , aggregate expenditure , consumption (sociology) , personal consumption expenditures price index , national accounts , macroeconomics , microeconomics , personal income , mechanical engineering , social science , sociology , engineering
A modified version of the perpetual inventory model is applied to new data on consumers' expenditure in the United Kingdom to establish estimates of that part of personal sector wealth represented by the stock of consumer durables. Current and constant price estimates are provided at an aggregate and disaggregate level for the gross and net stock and for the imputed consumption income over the period 1948–95. The accuracy and consistency of the estimates are evaluated in the context of other approaches.