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> I don't see how anyone can comment on the previous
> post mentioned so vaguely.
> 
> Forgetting the panel aspect for a moment,
> 
> gen K = k
> replace K = 0.95 * K[_n-1] + I in 2/l
> 
> That is, you initialise a variable and
> then -replace- all the first value.
> [_n-1] is Stata's way of referring to
> the previous value.
> 
> Now reinserting the panel aspect, you
> need to work
> 
> by firm:
> 
> but -by:- won't let you work with -in-.
> 
> gen K = k
> bysort firm (year) : replace K = 0.95 * K[_n-1] + I if _n > 1
> 
> should be closer to what you want.
> 
> If you -tsset-, the solution would be better as
> 
> tsset firm year
> gen K = k
> by firm: replace K = 0.95 * L.K + I if _n > 1
> 
> Nick
> n.j.cox@durham.ac.uk
> 
> Damiano Rossi
> 
> I need some help to compute a capital stock series from a gross 
> investment series. My primary problem is that I have to estimate the 
> initial capital stock (K_0 ) for each firm. As a general rule, it is 
> used the book value of fixed capital (K) in the first year of data (e.g. 
> 1996) for each firm. How can I command Stata to consider this first 
> observation (firm by firm) and then compute a capital stock series, 
> using a perpetual inventory and a constant rate of depreciation? A 
> previous post doesn't help me much on this point. These are the data.
> 
> Panl oif 300 firms, 10 years (1996-2006)
> k = capital stock
> I = capital investment
> d [delta] = 0.05
> 
> The evolution of the real capital stock is:
> K_t+i = (1 - d)*K_t+i-1 + I_t+i
> 
> 
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