Numerous studies on production and cost, the sources of productivity, and endogenous growth have recognized the pivotal role played by physical and R&D capital stocks. Analysis of the contributions of these capitals often requires measures of the stocks of physical and R&D capital, which in turn requires measuring their depreciation rates. In this paper, the authors specify a model of factor demand that allows them to estimate the depreciation rates of both physical and R&D capital jointly with other model parameters. The model is estimated for the U.S. total manufacturing sector. Copyright 1996 by Oxford University Press.
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Article provided by Oxford University Press in its journal Economic Inquiry.
Volume (Year): 34 (1996) Issue (Month): 1 (January) Pages: 43-56 Download reference. The following formats are available: HTML
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Handle: RePEc:oup:ecinqu:v:34:y:1996:i:1:p:43-56
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