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Investment, depreciation and obsolescence of R&D

Peter Chinloy, Cheng Jiang and Kose John

Journal of Financial Stability, 2020, vol. 49, issue C

Abstract: 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)
Date: 2020
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DOI: 10.1016/j.jfs.2020.100757

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