Web of Science: 11 cites, Scopus: 12 cites, Google Scholar: cites
Capital Maintenance and Depreciation over the Business Cycle
Albonico, Alice (Università degli studi di Milano-Bicocca)
Kalyvitis, Sarantis (Athens University of Economics and Business)
Pappa, Evi (Universitat Autònoma de Barcelona)

Data: 2014
Resum: This paper develops and estimates a stochastic general equilibrium model with capital maintenance, which affects endogenously the depreciation rate of capital. The estimate of maintenance series is found to track survey-based measures for Canada quite closely and to generate the procyclical pattern of maintenance observed in the data. We use it to infer the time profile of equipment capital depreciation in Canadian and US manufacturing. Contrary to existing estimates, the depreciation rate is estimated to be volatile and highly procyclical over the last 50 years in both countries.
Ajuts: MINECO/ECO2012-32392
AGAUR/SGR2009-00350
AUEB/ΕΡ-1710--28
Nota: Financial support from AUEB Basic Research Funding Program (Contract Number: ΕΡ-1710--28) is acknowledged by Sarantis Kalyvitis. The financial support from the Spanish Ministry of Science and Innovation through grant ECO2012-32392 and the Generalitat of Catalonia through grant SGR2009-00350 is acknowledged by Evi Pappa.
Drets: Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial i la comunicació pública de l'obra, sempre que no sigui amb finalitats comercials, i sempre que es reconegui l'autoria de l'obra original. No es permet la creació d'obres derivades. Creative Commons
Llengua: Anglès
Document: article ; recerca ; Versió acceptada per publicar
Matèria: Real business cycle ; Endogenous capital depreciation ; Maintenance
Publicat a: Journal of economic dynamics & control, Vol. 39 (2014) , p. 273-286, ISSN 0165-1889

DOI: 10.1016/j.jedc.2013.12.008


Postprint
37 p, 406.4 KB

El registre apareix a les col·leccions:
Articles > Articles de recerca
Articles > Articles publicats

 Registre creat el 2019-03-29, darrera modificació el 2021-06-13



   Favorit i Compartir