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Infinity7

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  1. Thanks a lot for this reply! "It's one of the most difficult issues in empirical economics." - this is what I suspected when I made this post. The link to the document you gave explained a lot! I read this research 5 years ago (2005 version). The concept is great, though as they measure that number once in 5 years and so far we have 2-3 data points, it's quite difficult to use it in empirical research. Now I see that you even didn't understand the question! There is capital stock term which is an accounting term and it relates to a company (this is what you assumed) and there is capital stock which relates to macroeconomics (which is what I asked about). Cobb-Douglas told you nothing. Why bother to comment and send useless links to Wikipedia? It turned out this forum has enough knowledgeable members.
  2. This question is not that straightforward as you assumed and this is not for homework - I graduated 5 years ago. I googled already and visited these wikipedia pages. Unfortunatelly they don't contain the definition of Capital Stock. If you believe they have the definition, could you please just copy it here?
  3. Cobb-Douglas model has K - Capital stock. K is also used in other macroeconomic models. What does K mean on practice? Is it Equity + Bonds + Loans + Cash? How can I canculate it for one particular country?
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