Accounting for capital consumption and technological progress
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.
Volume (Year): (1999)
Issue (Month): Q II ()
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- Michael Gort & Jeremy Greenwood & Peter Rupert, 1998. "Measuring the rate of technological progress in structures," Working Paper 9806, Federal Reserve Bank of Cleveland.
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