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Two alternative measures of demand adjusted capital input for the U.S. non-farm private business sector are derived and their differential impacts on the potential supply of output are compared to those obtained using the unadjusted index of capital input published by the Congressional Budget...
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In this article, we demonstrate that a small degree of stochastic variation in the depreciation rate of capital can … greatly reduce the comovement between hours worked and labor productivity in a neoclassical growth model. The depreciation …
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structure of an economy. Critical to these contributions of physical and R&D capital is the measurement of the stocks of … physical and R&D capital, which in turn requires measuring their depreciation rates. In this paper we have specified a model of … factor demand that allows for estimating the depreciation rate of both physical and R&D capital jointly with the other model …
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structure of an economy. Critical to these contributions of physical and R&D capital is the measurement of the stocks of … physical and R&D capital, which in turn requires measuring their depreciation rates. In this paper we have specified a model of … factor demand that allows for estimating the depreciation rate of both physical and R&D capital jointly with the other model …
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