SEMAINE D ETUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC.

855

Obviously, given the non availability of valuable data,
‘his can be no more than an indicative calculation. Nevertheless
 its results are quite suggestive if they are compared with
‘he different items in Tables 7, 8 and 9 which relate to the
percentage contribution of primary income to capital and consumed
 income.
Thus, the percentage 66.4 appearing in Table Ir in the
breakdown of Rc differs relatively little from the 68.4 in
Table 7, the 66.6 in Table 8 or the 54.5 in Table g. Similarly,
the overall percentage of 83.7 corresponding in the breakdown
of capital to equipment and structures after exclusion of repair
and maintenance expenditures is directly comparable to the
figures of 70.8 and 82.0 in Table 8 and g. Finally, the amorlsation
 periods of 12.18 years for equipment and structural
assets in Table 11 is directly comparable to the corresponding
periods shown in Tables 8 and 9 as 9.56 and 8.15 respectively
 (1).

7) In usual practise, only those outlays whose amortisaion
 period is one year or longer are in principle considered as
nvestment.
However, in the first place, this limit is no more than a

which repair and maintenance outlays represent in annual investment, then
we should have

vhence

= 0.060

from which the various figures in Table II follow.
() If it is assumed that the cost of maintaining reproduction capital in
operating condition represents one half of the sums devoted to investment,
the breakdown percentages for C and R are found respectively as 10.2
11.5 - 24.8 and 53.6 for C and 59.0 - 20.0 - 11.3 and 9.7 for Rec.

11] Allais - pag. 15;