Investment, depreciation and obsolescence of R&D
Cheng Jiang and
Journal of Financial Stability, 2020, vol. 49, issue C
Time-varying depreciation rates are estimated for research and development of the United States aggregate economy and innovation-intensive industries. Mean annual R&D depreciation rates are 31.5% for software, 41% for pharmaceuticals, 42% for semiconductors, and 30.4% for aggregate economy during 1978–2014. R&D depreciation rates vary across industries.
Keywords: R&D; Time-varying depreciation; Pharmaceuticals; Semiconductors; Software (search for similar items in EconPapers)
JEL-codes: E22 O3 O4 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finsta:v:49:y:2020:i:c:s1572308920300565
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