Numerous studies on production and cost, the sources of productivity, and endogenous growth have recognized the pivotal role played by physical and R&D capital stocks. Analysis of the contributions of these capitals often requires measures of the stocks of physical and R&D capital, which in turn requires measuring their depreciation rates. In this paper we specify a model of factor demand that allows us to estimate the depreciation rates of both physical and R&D capital jointly with other model parameters. The model is estimated for the U.S. total manufacturing sector.
|Original language||English (US)|
|Number of pages||14|
|State||Published - Jan 1996|
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Economics and Econometrics