Measuring Capital Depreciation Under Conditions of Technological Change: U.S. Manufacturing Industries 1946-1961 |
Common terms and phrases
1+AB aggregate assumption asymptotic variance capital coefficient capital input cash flow Chapter Cobb-Douglas function Cobb-Douglas production function computed constant returns costs defined demand curve depreciation and technological depreciation factor depreciation rate discussed disembodied technological progress effective capital stock elasticity of substitution embodied technological progress Equation q error terms Euler's identity exogenous variables expression factor of production FIML firm gross investment Hildebrand and Liu homoscedastic income K₁ least squares likelihood function linear manufacturing industries markets maximum-likelihood estimates method of estimation non-linearity output parameter space period plant problem production process productivity of labor quality changes rate of return rate of technological raw materials reduced equations returns to scale second derivatives simultaneous equations model Solow structural parameters technological change time-series data USIO and SCB value added variance-covariance matrix various vintages wage rate Συ акт