DEPRECIATION, OBSOLESCENCE AND THE ROLE OF CAPITAL IN GROWTH ACCOUNTING
作者:
Nicholas Oulton,
期刊:
Bulletin of Economic Research
(WILEY Available online 1995)
卷期:
Volume 47,
issue 1
页码: 21-33
ISSN:0307-3378
年代: 1995
DOI:10.1111/j.1467-8586.1995.tb00598.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
ABSTRACTMaurice Scott has argued that the neoclassical production function and growth accounting are fundamentally flawed as tools for understanding the growth process. If the role of capital were correctly evaluated, then (he argues) the famous ‘residual’ of growth accounting would disappear. Contrary to these claims, this paper seeks to show that growth accounting gives correct answers to interesting questions, even when all technical progress is embodied in new capital goods and even when depreciation is entirely due to obsolesce
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