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Investment Behavior, the Measurement of Depreciation, and Tax Policy
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This article is published in The American Economic Review.The article was published on 1975-01-01 and is currently open access. It has received 109 citations till now. The article focuses on the topics: Depreciation & State income tax.read more
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Directed Technical Change
TL;DR: In this paper, the authors developed a simple framework to analyse the forces that shape the bias of technical change towards particular factors, and applied this framework to develop possible explanations to the following questions: why technical change over the past 60 years was skill biased, and why the skill bias may have accelerated over 25 years? Why new technologies introduced during the late eighteenth and early nineteenth centuries were unskill biased.
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Misperceptions of Feedback in Dynamic Decision Making
TL;DR: In this paper, the behavior of decision makers to the dynamics of an industry or the macroeconomy is studied. But, despite the success of experimental techniques in the domain of the individual and small group, there has been comparatively little work relating the behaviour of decision-makers to the dynamic dynamics of larger organizations such as an industry.
The Measurement of Depreciation in the U.S. National Income and Product Accounts
TL;DR: In this article, the authors describe the theoretical and empirical literature that supports the new bea methodology, which has shown that depreciation for most types of assets approximates a geometric pattern.
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The estimation of economic depreciation using vintage asset prices: An application of the Box-Cox power transformation
TL;DR: The authors applied the Box-Cox power transformation to the problem of estimating the rate and form of economic depreciation from data on used asset prices, and found that the appropriate depreciation pattern is approximately geometric.
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Taxation, Saving and the Rate of Interest
TL;DR: In this paper, a variety of functional forms, estimation methods, and definitions of the real after-tax rate of return invariably lead to the conclusion of a substantial interest elasticity of saving and the implications of this result for the analysis of the efficiency and equity of the current U.S. tax treatment of income from capital are explored.
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