Endogenous depreciation, mismeasurement of aggregate capital, and the productivity slowdown

被引：5

作者：

Mukoyama, Toshihiko ^{[1
,2
]}

机构：

[1] Univ Virginia, Dept Econ, Charlottesville, VA 22904 USA

[2] CIREQ, Charlottesville, VA 22904 USA

来源：

JOURNAL OF MACROECONOMICS | 2008年 / 30卷 / 01期

关键词：

endogenous depreciation; vintage capital model; investment-specific technological change; productivity slowdown;

D O I：

10.1016/j.jmacro.2006.04.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

When we allow capital depreciation to be endogenous, the acceleration of investment-specific technological progress can distort the measurement of the aggregate capital stock. Our quantitative exercise shows that this effect may cause a substantial bias in the measurement of total factor productivity and can account for a large portion of the observed productivity slowdown since the 1970s. (c) 2006 Elsevier Inc. All rights reserved.

引用

页码：513 / 522

页数：10

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