Filtering by: Keyword Economic depreciation Remove constraint Keyword: Economic depreciation
|Creator:||Gort, Michael, 1923-, Greenwood, Jeremy, 1953-, and Rupert, Peter Charles, 1952-|
|Series:||Productivity and the industrial revolution|
How much technological progress has there been in structures? An attempt is made to measure this using panel data on the age and rents for buildings. This data is interpreted through the eyes of a vintage capital model where buildings are replaced at some chosen periodicity. There appears to have been significant technological advance in structures that accounts for a major part of economic growth.
|Keyword:||Investment-specific technological progress, Replacement problem, Capital investments, Economic depreciation, Vintage capital, Economic growth, Rent gradient, and Technology|
|Subject (JEL):||L74 - Industry studies : Primary products and construction - Construction, O40 - Economic growth and aggregate productivity - General, O30 - Technological change ; Research and development - General, and O33 - Technological change ; Research and development - Technological change : Choices and consequences ; Diffusion processes|