Estimation of the Depreciation Rate of Physical and R&D Capital in the U.S. Total Manufacturing Sector
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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Volume (Year): 34 (1996)
Issue (Month): 1 (January)
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