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A joint estimation of the production function and the depreciation rate of the capital stock. A disaggregated analysis

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  • Risueño, Marta
  • Mauleón, Ignacio

Abstract

In this article we estimate the depreciation rate of the capital stock jointly with the parameters of a production function. We use data on 81 Spanish manufacturing sectors for the period 1978-1992. The methodology used allows us to obtain consistent capital stock series using gross investment data and an initial capital stock.

Suggested Citation

  • Risueño, Marta & Mauleón, Ignacio, 1997. "A joint estimation of the production function and the depreciation rate of the capital stock. A disaggregated analysis," UC3M Working papers. Economics 6064, Universidad Carlos III de Madrid. Departamento de Economía.
  • Handle: RePEc:cte:werepe:6064
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    References listed on IDEAS

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    1. Pesaran, M. Hashem & Smith, Ron, 1995. "Estimating long-run relationships from dynamic heterogeneous panels," Journal of Econometrics, Elsevier, vol. 68(1), pages 79-113, July.
    2. Nadiri, M Ishaq & Prucha, Ingmar R, 1996. "Estimation of the Depreciation Rate of Physical and R&D Capital in the U.S. Total Manufacturing Sector," Economic Inquiry, Western Economic Association International, vol. 34(1), pages 43-56, January.
    3. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 38(2), pages 112-134.
    4. Alfonsa Denia Cuesta & Ana María Gallego & Ignacio Mauleón Torres, 1996. "Una estimación econométrica del stock de capital de la economía española," Working Papers. Serie EC 1996-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    5. Prucha, Ingmar R, 1995. "On the Econometric Estimation of a Constant Rate of Depreciation," Empirical Economics, Springer, vol. 20(2), pages 299-302.
    6. Manuel Arellano & Olympia Bover, 1990. "La econometría de datos de panel," Investigaciones Economicas, Fundación SEPI, vol. 14(1), pages 3-45, January.
    7. Prucha, Ingmar R. & Nadiri, M. Ishaq, 1996. "Endogenous capital utilization and productivity measurement in dynamic factor demand models Theory and an application to the U.S. electrical machinery industry," Journal of Econometrics, Elsevier, vol. 71(1-2), pages 343-379.
    8. Daniel S. Hamermesh, 1993. "Labor Demand and the Source of Adjustment Costs," NBER Working Papers 4394, National Bureau of Economic Research, Inc.
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    Keywords

    Depreciation rate;

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