The private economic indicators for an average year in
Haza are measured based on the following assumptions:
(i) external human-made capital can be bought as needed
year by year, and is calculated at 2002 prices, thus annual
gross fixed capital investment in consumable fixed capital
equals its annual consumption at its replacement cost;
(ii) current livestock management and agriculture techniques
do not change significantly; and (iii) current land
market price rises are attributable to landowners’ consumption
of private amenities. To estimate the land
revaluation, we apply the average real variation rate in
the Extremadura region’s non-irrigated pastureland price
index for the 1990–2002 period (+1.2%).