How fast do personal computers depreciate?: concepts and new estimates
Division of Research & Statistics and Monetary Affairs, Federal Reserve Board, 2004 - Computers - 58 pages
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age-price proﬁle age-related April asset prices average Bank baseline regression BEA’s bluebook Brian Sack calculated capital consumption capital measurement capital stock coefﬁcients colurrm constant-dollar investment constant-dollar wealth stock constant-quality price change constrained regression consumption of ﬁxed cost of capital dataset deductions deﬂator denote depreciation and revaluation depreciation schedule dollars dummy variable Economic Depreciation effect of depreciation effective tax rate empirical equals estimates of depreciation February Federal Reserve Board ﬁgure ﬁrm ﬁrst ﬁve ﬁxed capital Geske hedonic Hedonic Regressions Hulten implies Income inﬂation rate interest rate Jorgenson July loss of value Market measurement of depreciation model age Monetary Policy months NIPA October-December Oliner Packard Bell PC’s personal computers pre-tax present value price decline price index price proﬁles processor quality-adjusted rate of constant-quality real revaluation reﬂect remaining value retirement distribution revaluation effect signiﬁcant table 7a tax allowances tax policy type-k capital user cost Wykoff