ten Raa, Thijs; Gittleman, M.; Wolff, E.N. - Tilburg University, Center for Economic Research - 2003
The age structure of capital plays an important role in the measurement of productivity.It has been argued that the slowdown in the 1970 s can be ascribed to the aging of the stock of capital.In this paper we incorporate the age structure in productivity measurement.One proposition proves that...