IDEAS home Printed from https://ideas.repec.org/a/fip/fedcer/y1999iqiip13-18.html
   My bibliography  Save this article

Accounting for capital consumption and technological progress

Author

Listed:
  • Michael Gort
  • 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.

Suggested Citation

  • Michael Gort & Peter Rupert, 1999. "Accounting for capital consumption and technological progress," Economic Review, Federal Reserve Bank of Cleveland, issue Q II, pages 13-18.
  • Handle: RePEc:fip:fedcer:y:1999:i:qii:p:13-18
    as

    Download full text from publisher

    File URL: http://www.clevelandfed.org/Research/review/1999/99-q2-gort.pdf
    Download Restriction: no

    File URL: https://fraser.stlouisfed.org/scribd/?toc_id=276531&filepath=/docs/publications/frbclevreview/rev_frbclev_1999q2.pdf&start_page=14#scribd-open
    Download Restriction: no

    References listed on IDEAS

    as
    1. repec:ucp:bknber:9780226304557 is not listed on IDEAS
    2. Hercowitz, Z., 1992. "Macroeconomic Implication of Investment-Specific Technological Change," Papers 13-92, Tel Aviv - the Sackler Institute of Economic Studies.
    3. 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.
    4. Robert J. Gordon, 1990. "The Measurement of Durable Goods Prices," NBER Books, National Bureau of Economic Research, Inc, number gord90-1, April.
    5. Hulten, Charles R. & Wykoff, Frank C., 1981. "The estimation of economic depreciation using vintage asset prices : An application of the Box-Cox power transformation," Journal of Econometrics, Elsevier, vol. 15(3), pages 367-396, April.
    6. R. E. Hall, 1968. "Technical Change and Capital from the Point of View of the Dual," Review of Economic Studies, Oxford University Press, vol. 35(1), pages 35-46.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedcer:y:1999:i:qii:p:13-18. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (4D Library). General contact details of provider: http://edirc.repec.org/data/frbclus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.