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. A proposition proves that...

The age structure of capital plays an important role in the measurement of productivity. It has been argued that the slowdown in the 1970s 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...

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. A proposition proves that...