Accounting for capital consumption and technological progress

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Accounting for capital consumption and technological progress

Author Info

Michael Gort
Peter Rupert

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Peter Rupert

Abstract

Methods currently used to calculate capital consumption, the stock of capital, and the sources of economic growth do not adequately measure the underlying growth in inputs due to technological advance. This lack affects tax policy as well as the design of programs targeting potential areas of economic growth. The authors present a model designed to surmount the problems affecting current methods of calculation.

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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1999)
Issue (Month): Q II ()
Pages: 13-18
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Handle: RePEc:fip:fedcer:y:1999:i:qii:p:13-18

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Related research
Keywords: Capital ; Technology;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Michael Gort & Jeremy Greenwood & Peter Rupert, 1999. "Measuring the Rate of Technological Progress in Structures," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 2(1), pages 207-230, January. [Downloadable!] (restricted)
Other versions:
- Michael Gort & Jeremy Greenwood & Peter Rupert, 1998. "Measuring the rate of technological progress in structures," Working Paper 9806, Federal Reserve Bank of Cleveland. [Downloadable!]
- Gort, M. & Greenwood, J. & Rupert, P., 1998. "Measuring the Rate of Technological Progress in Structures," RCER Working Papers 457, University of Rochester - Center for Economic Research (RCER).
Jeremy Greenwood & Zvi Hercowitz & Per Krusell, 1992. "Macroeconomic implications of investment-specific technological change," Discussion Paper / Institute for Empirical Macroeconomics 76, Federal Reserve Bank of Minneapolis. [Downloadable!]
Other versions:
- Hercowitz, Z., 1992. "Macroeconomic Implication of Investment-Specific Technological Change," Papers 13-92, Tel Aviv - the Sackler Institute of Economic Studies.
- Greenwood, J. & Hercowitz, Z. & Krusell, P., 1992. "Macroeconomic Implications of Investment-Specific Technological Change," Papers 527, Stockholm - International Economic Studies.

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