LEADER 05575oam 22012014 450 001 9910961192403321 005 20251116163703.0 010 $a9786612844478 010 $a9781462345670 010 $a1462345670 010 $a9781282844476 010 $a1282844474 010 $a9781452778310 010 $a1452778310 010 $a9781451873979 010 $a1451873972 035 $a(CKB)3170000000055369 035 $a(SSID)ssj0000939938 035 $a(PQKBManifestationID)11512676 035 $a(PQKBTitleCode)TC0000939938 035 $a(PQKBWorkID)10945927 035 $a(PQKB)10780416 035 $a(OCoLC)680614168 035 $a(MiAaPQ)EBC1605940 035 $a(IMF)WPIEE2009250 035 $a(IMF)WPIEA2009250 035 $aWPIEA2009250 035 $a(EXLCZ)993170000000055369 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Stock of Intangible Capital in Canada : $eEvidence from the Aggregate Value of Securities /$fNazim Belhocine 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a28 p. $cill 225 1 $aIMF Working Papers 300 $a"November 2009." 311 08$a9781451918113 311 08$a1451918119 327 $aIntro -- Table of Contents -- I. Introduction -- II. Relationship to Related Literature -- III. Methodology -- A. A Quantitative Approach to the q-theory -- B. Empirical Strategy -- IV. Data Description -- V. Results -- VI. Sensitivity Analysis -- A. Allowing for Different Adjustment Cost Parameters -- B. Allowing for Different Depreciation Rates -- C. Allowing for Different Initial Values -- VII. Conclusion -- References -- Appendix: Data Sources and Manipulations -- Tables -- 1. Parameter Values -- 2. Accounting Balance Sheet -- 3. Modified Accounting Framework -- 4. Financial Assets and Liabilities at Market Value -- Figures -- 1. Shares and Bonds at Book and Market Value -- 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 billions) -- 6. Sensitivity to Various Adjustment Costs of the Ratio of Intangible Capital to the Inferred Capital Stock -- 7. Sensitivity of the Ratio of Intangible Capital to the Overall -- 8. Sensitivity of the Intangible Capital Stock to Various Initial Values. 330 3 $aThis paper measures the size of the stock of intangible capital in Canada using newly released data on the market value of all securities in the economy. The approach taken relies on a quantitative application of the q-theory of investment to generate the quantity of capital owned by firms. I find that the intangible capital stock accounted for approximately 30% of overall capital since 1994. Of this intangible capital stock, the R&D reported by national accounts makes up only 23%. In addition, the finding on the magnitude of the intangible capital stock is comparable to that reported using a cost approach, confirming the size and the relevance of intangibles to macroeconomic models. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/250 606 $aCapital market$zCanada 606 $aSecurities$zCanada 606 $aCapacity$2imf 606 $aCapital$2imf 606 $aDepreciation$2imf 606 $aFinancial Instruments$2imf 606 $aFinancial instruments$2imf 606 $aGeneral Aggregative Models: General$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInstitutional Investors$2imf 606 $aIntangible Capital$2imf 606 $aIntangible capital$2imf 606 $aInvestment & securities$2imf 606 $aInvestment$2imf 606 $aInvestments: General$2imf 606 $aInvestments: Stocks$2imf 606 $aMacroeconomics$2imf 606 $aNational accounts$2imf 606 $aNational income$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aPension Funds$2imf 606 $aSaving and investment$2imf 606 $aSecurities$2imf 606 $aStocks$2imf 607 $aCanada$xEconomic policy 607 $aCanada$2imf 615 0$aCapital market 615 0$aSecurities 615 7$aCapacity 615 7$aCapital 615 7$aDepreciation 615 7$aFinancial Instruments 615 7$aFinancial instruments 615 7$aGeneral Aggregative Models: General 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInstitutional Investors 615 7$aIntangible Capital 615 7$aIntangible capital 615 7$aInvestment & securities 615 7$aInvestment 615 7$aInvestments: General 615 7$aInvestments: Stocks 615 7$aMacroeconomics 615 7$aNational accounts 615 7$aNational income 615 7$aNon-bank Financial Institutions 615 7$aPension Funds 615 7$aSaving and investment 615 7$aSecurities 615 7$aStocks 676 $a332.60971 700 $aBelhocine$b Nazim$01087661 712 02$aInternational Monetary Fund.$bWestern Hemisphere Department. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961192403321 996 $aThe Stock of Intangible Capital in Canada$94372841 997 $aUNINA