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Measuring the Rate of Technological Progress in Structures

Michael Gort, Jeremy Greenwood and Peter Rupert ()
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Michael Gort: SUNY at Buffalo

Review of Economic Dynamics, 1999, vol. 2, issue 1, 207-230

Abstract: How much technological progress has there been in structures? An attempt is made to measure this using panel data on the age and rents of buildings. The data are interpreted with the help of a vintage capital model where buildings are replaced with some chosen periodicity. The results indicate there has been significant technological advance in structures that accounts for an important part of economic growth. (Copyright: Elsevier)

Keywords: investment-specific technological progress; economic growth; vintage capital; replacement problem; economic depreciation; rent gradient (search for similar items in EconPapers)
JEL-codes: O3 O4 (search for similar items in EconPapers)
Date: 1999
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Working Paper: Measuring the Rate of Technological Progress in Structures (1998)
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DOI: 10.1006/redy.1998.0046

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