PWT 9.0 data corrections
|Date:||19 August 2016|
Thanks to helpful user queries, we have found two computation errors in the PWT 9.0 data that were released on June 9 2016:
- Several countries showed large jumps in the RKNA series, with implied annual growth rates of more than 100 percent in some cases (for example, Australia in 1951 and 1960). These jumps were caused by changes in detailed capital asset coverage, so that the capital stock was (very close to) zero in one year and positive in the next. Often these jumps were in the second year of data coverage. To avoid these jumps, the growth rate of RKNA is now computed omitting assets for which no capital stock data was available in the previous year. This has eliminated the extreme jumps in RKNA; the RTFPNA and RWTFPNA variables have been recomputed based on the new RKNA series. Other series have not been affected.
- In the Capital Detail file, the investment and capital stock deflators (Ip_* and Kp_* variables) would change too rapidly for all assets, except transport equipment, due to an omitted division by 2.
Modified version of the PWT Stata and Excel files and of the Capital Detail file. The program package is also updated with a corrected version of the ‘capital_results.dta’ file. We are sorry for any inconvenience this causes.