Defining capital in growth models
AbstractThis article analyzes the measurement of the capital stock when technological advance is embodied in capital. The source of the problem is that capital is not homogeneous across vintages. Which measure of the capital stock to use is dictated by the question being addressed.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Cleveland in its journal Economic Review.
Volume (Year): (1999)
Issue (Month): Q II ()
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- Bouton, L. & Sumlinski, M.A., 2000. "Trends in Private Investment in Developing Countries. Statistics for 1970-1998," Papers 41, World Bank - International Finance Corporation.
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