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The age of capital, the age of utilized capital, and tests of the embodiment hypothesis


  • Richard McHugh
  • Julia Lane


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Suggested Citation

  • Richard McHugh & Julia Lane, 1986. "The age of capital, the age of utilized capital, and tests of the embodiment hypothesis," Working Papers 86-4, Federal Reserve Bank of Philadelphia.
  • Handle: RePEc:fip:fedpwp:86-4

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    References listed on IDEAS

    1. Merton, Robert C, 1974. "On the Pricing of Corporate Debt: The Risk Structure of Interest Rates," Journal of Finance, American Finance Association, vol. 29(2), pages 449-470, May.
    2. Yongheng Deng & John M. Quigley & Robert Van Order, 2000. "Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options," Econometrica, Econometric Society, vol. 68(2), pages 275-308, March.
    3. Gordy, Michael B., 2003. "A risk-factor model foundation for ratings-based bank capital rules," Journal of Financial Intermediation, Elsevier, vol. 12(3), pages 199-232, July.
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    Cited by:

    1. Donald R. Epley, 1990. "The Concept and Market Extraction of Effective Age for Residential Properties," Journal of Real Estate Research, American Real Estate Society, vol. 5(1), pages 41-52.
    2. Savvidou, Eleni, 2003. "The Relationship Between Skilled Labor and Technical Change," Working Paper Series 2003:27, Uppsala University, Department of Economics.
    3. George Bitros, 2010. "The theorem of proportionality in contemporary capital theory: An assessment of its conceptual foundations," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(4), pages 367-401, December.
    4. Plutarchos Sakellaris & Daniel J. Wilson, 2004. "Quantifying Embodied Technological Change," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(1), pages 1-26, January.
    5. Whelan, Karl, 2007. "Embodiment, productivity, and the age distribution of capital," Journal of Macroeconomics, Elsevier, vol. 29(4), pages 724-740, December.
    6. Benoit Millot & Julia Lane, 2002. "The Efficient Use of Time in Education," Education Economics, Taylor & Francis Journals, vol. 10(2), pages 209-228.
    7. Bitros, George C., 2009. "The Theorem of Proportionality in Mainstream Capital Theory: An Assessment of its Conceptual Foundations," MPRA Paper 17436, University Library of Munich, Germany.
    8. Daniel J. Wilson, 2002. "Is Embodied Technology the Result of Upstream R&D? Industry-Level Evidence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 285-317, April.
    9. Bloch, Harry & Madden, Gary G, 1995. "Productivity growth in Australian manufacturing: a vintage capital model," MPRA Paper 13003, University Library of Munich, Germany.

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    Capital ; Labor productivity;


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