Holz, Carsten A - EconWPA - 2005
equal the value of fixed assets newly created through investment, (iii) depreciation is an accounting measure that bears no … necessary relation to changes in the production capacity of fixed assets, (iv) official fixed asset data, where available …, incorporate significant revaluations in the 1990s, and (v) “net fixed assets” do not measure the contribution of fixed assets to …