Inflation Accounting and Nonfinancial Corporate Profits: Physical Assets

Jeremy Bulow and John B. Shoven

Discussants: William J. Fellner and Edward Gramlich

1975, No. 3

THIS ARTICLE is the first of two complementary papers concerning inflation accounting and nonfinancial corporate profits. This installment discusses the general conceptual and practical issues in defining an inflation-adjusted measure of profits and examines the treatment of depreciable assets and inventories in detail. The companion article, to appear subsequently in BPEA, will analyze accounting practices for financial assets and liabilities, and also aggregate and summarize the results of both papers.

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Inflation Accounting and Nonfinancial Corporate Profits: Physical Assets

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Inflation Accounting and Nonfinancial Corporate Profits: Physical Assets

Jeremy Bulow and JB Jeremy Bulow Stanford University John B. Shoven John B. Shoven Charles R. Schwab Professor of Economics - Stanford University, and NBER Discussants: William J. Fellner and WJF William J. Fellner Edward Gramlich EG Edward Gramlich

Jeremy Bulow and John B. Shoven

Discussants: William J. Fellner and Edward Gramlich