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Depreciation in Production Analysis and in Income and Wealth Accounts: Resolution of an Old Debate

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  • Triplett, Jack E

Abstract

In this article, the author proposes a resolution for the long-standing controversy over depreciation. He develops, from capital theory, income and wealth accounting capital concepts and compares them with those from production analysis and productivity measurement. The author concludes that depreciation in economic accounts is exactly the same measurement as in production analysis. As for empirical implications, market-based measures of depreciation are appropriate for economic accounts, provided they are appropriate empirical measures of economic depreciation. Copyright 1996 by Oxford University Press.

Suggested Citation

  • Triplett, Jack E, 1996. "Depreciation in Production Analysis and in Income and Wealth Accounts: Resolution of an Old Debate," Economic Inquiry, Western Economic Association International, vol. 34(1), pages 93-115, January.
    • Handle: RePEc:oup:ecinqu:v:34:y:1996:i:1:p:93-115
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    Cited by:

    1. Karl Whelan, 2002. "Computers, Obsolescence, And Productivity," The Review of Economics and Statistics, MIT Press, vol. 84(3), pages 445-461, August.
    2. Mary J. Keeney, 2007. "Measuring Irish Capital," The Economic and Social Review, Economic and Social Studies, vol. 38(1), pages 25-62.
    3. Jonathan E. Leightner, 2001. "Maintenance," Journal of Applied Economics, Universidad del CEMA, vol. 4, pages 107-124, May.
    4. Diewert, W. Erwin & Wykoff, Frank C., 2006. "Depreciation, Deterioration and Obsolescence when there is Embodied or Disembodied Technical Change," Economics working papers diewert-06-11-23-08-38-56, Vancouver School of Economics, revised 13 Jul 2007.
    5. W. Erwin Diewert, 2003. "Measuring Capital," NBER Working Papers 9526, National Bureau of Economic Research, Inc.
    6. F. J. Escribá-Pérez & M. J. Murgui-García & J. R. Ruiz-Tamarit, 2017. "Economic and Statistical Measurement of Physical Capital with an Application to the Spanish Economy," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2017020, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    7. Kaliczka, Nándor, 2012. "A tartós eszközök értékcsökkenési mintájának empirikus becslése
      [Empirical estimation of the depreciation pattern of durable assets]      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 285-310.
    8. Hulten, Charles R., 2010. "Growth Accounting," Handbook of the Economics of Innovation, Elsevier.
    9. Wang, Lili & Szirmai, Adam, 2008. "Regional Capital Inputs in Chinese Industry and Manufacturing, 1978-2003," MERIT Working Papers 028, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    10. Wang, Lili & Szirmai, Adam, 2012. "Capital inputs in the Chinese economy: Estimates for the total economy, industry and manufacturing," China Economic Review, Elsevier, vol. 23(1), pages 81-104.
    11. Lucilene Morandi & Eustáquio J. Reis, 2004. "Estoque De Capital Fixo No Brasil, 1950-2002," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] 042, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    12. repec:dgr:rugggd:gd-99 is not listed on IDEAS
    13. Charles R. Hulten & Paul Schreyer, 2010. "GDP, Technical Change, and the Measurement of Net Income: the Weitzman Model Revisited," NBER Working Papers 16010, National Bureau of Economic Research, Inc.
    14. Iturralde, Maria José & Quirós, Cipriano, 2008. "Analysis of efficiency of the European postal sector," International Journal of Production Economics, Elsevier, vol. 114(1), pages 84-90, July.

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