Embodiment, productivity, and the age distribution of capital

Journal of Macroeconomics

Volumn 29, Issue 4, 2007, Pages 724-740

  Whelan, Karl ^a  

^a CENTRAL BANK OF IRELAND   (Ireland)

Author keywords

Embodiment; Investment; Productivity

Indexed keywords

EID: 35548943030     PISSN: 01640704     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jmacro.2005.11.006     Document Type: Article

References (15)

1. Cummins J., and Violante G. Investment-specific technical change in the US (1947-2000): Measurement and macroeconomic consequences. Review of Economic Dynamics 5 (2002) 243-284
2. Gordon R.J. The Measurement of Durable Goods Prices (1990), University of Chicago Press, Chicago
3. Greenwood J., Hercowitz Z., and Krussell P. Long-run implications of investment-specific technological change. American Economic Review 87 (1997) 342-362
4. Hulten C., and Wykoff F. The estimation of economic depreciation using vintage asset prices: An application of the box-cox power transformation. Journal of Econometrics 15 3 (1981) 367-396
5. Hulten C., and Wykoff F. Issues in the measurement of economic depreciation: Introductory remarks. Economic Inquiry 34 1 (1996) 10-23
6. Jorgenson D. The economic theory of replacement and depreciation. In: Sellekaerts W. (Ed). Econometrics and Economic Theory (1973), Macmillan, New York
7. McHugh R., and Lane J. The embodiment hypothesis: An interregional test. Review of Economics and Statistics 65 2 (1983) 323-327
8. McHugh R., and Lane J. The age of capital, the age of utilized capital, and tests of the embodiment hypothesis. Review of Economics and Statistics 69 2 (1987) 362-367
9. Nelson R. Aggregate production functions and medium-range growth projections. American Economic Review 54 4 (1964) 575-605
10. Oliner S. Constant-quality price change, depreciation, and retirement of mainframe computers. In: Young A., Foss M., and Manser M. (Eds). Price Measurements and Their Uses (1989), University of Chicago Press, Chicago
11. Sakellaris, P., 2001. Production function estimation with industry capacity data. Federal Reserve Board. Finance and Economics Discussion Series, 2001-6.
12. Stiroh K. Are ICT spillovers driving the new economy?. Review of Income and Wealth 48 1 (2002) 33-58
13. Whelan K. Computers, Obsolescence, and Productivity. Review of Economics and Statistics 84 3 (2002) 445-461
14. Wolff E. Capital formation and productivity convergence over the long-term. American Economic Review 81 3 (1991) 565-579
15. Wolff E. The productivity slowdown: The culprit at last? Follow-up on Hulten and Wolff. American Economic Review 86 5 (1996) 1239-1252