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The vintage effect in TFP-growth : an analysis of the age structure of capital

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The Vintage Effect in TFP Growth : An Analysis of the Age Structure of Capital

Gittleman, Maury B.; Raa, Thijs ten; Wolff, Edward N. - 2021

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...

Persistent link: https://www.econbiz.de/10013240940