This study simultaneously analyzes the real estate production function and economic depreciation of structures by using data from Japan and the U.S. The estimated share of structure value is used to infer returns to scale, the land-structure substitution, and the structure depreciation rate....

This study analyzes how real estate depreciates in economic value as it ages. The economic depreciation of real estate affects investment decisions by decreasing appreciation returns and increasing income returns. The data show significant cross-sectional variation in depreciation rates for...

The U.S. inflation measures, such as the Consumer Price Index, are adjusted for rent depreciation based on a 1988 estimate. This study estimates rent depreciation by using a novel rental-listing data set for the Las Vegas metropolitan area. The average annual depreciation rate is 0.2 percent for...