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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. Anatoli Annenkov & Christophe Madaschi, 2005. "Labour productivity in the Nordic EU countries - a comparative overview and explanatory factors – 1998-2004," Occasional Paper Series 39, European Central Bank.
    7. Werner Hölzl & Robert Leisch, 2004. "Estimates of capital stocks and capital productivity in Austrian manufacturing industries, 1978 -1994," Working Papers geewp41, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
    8. 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," LIDAM Discussion Papers IRES 2017020, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    9. 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.
    10. Hulten, Charles R., 2010. "Growth Accounting," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 987-1031, Elsevier.
    11. Escribá-Pérez, F.J. & Murgui-García, M.J. & Ruiz-Tamarit, J.R., 2018. "Economic and statistical measurement of physical capital: From theory to practice," Economic Modelling, Elsevier, vol. 75(C), pages 246-255.
    12. Wang, Lili & Szirmai, Adam, 2008. "Regional Capital Inputs in Chinese Industry and Manufacturing, 1978-2003," MERIT Working Papers 2008-028, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    13. 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.
    14. Lucilene Morandi & Eustáquio J. Reis, 2004. "Estoque De Capital Fixo No Brasil, 1950-2002," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] 042, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    15. F. J. Escribá-Pérez & M. J. Murgui-García & J. R. Ruiz-Tamarit, 2019. "Capital Stock and Depreciation: Theory and an Empirical Application," LIDAM Discussion Papers IRES 2019004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    16. repec:dgr:rugggd:gd-99 is not listed on IDEAS
    17. 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.
    18. 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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