Depreciation , Stocks , User Costs and Productivity Growth for US Knowledge Intensive Industries

@inproceedings{Bernstein2004DepreciationS,
  title={Depreciation , Stocks , User Costs and Productivity Growth for US Knowledge Intensive Industries},
  author={R. Bernstein and Theofanis P. Mamuneas},
  year={2004}
}
This paper estimates R&D depreciation rates for U.S. knowledge intensive industries. R&D depreciates at an annual rate of; 18 percent for chemical products, 26 percent for nonelectrical machinery, 29 percent for electrical products, and 21 percent for transportation equipment. These rates imply that R&D depreciates 2 to 7 times faster than physical capital stocks in these industries. Based on these depreciation rates, new estimates of R&D user costs imply that the marginal (gross of… CONTINUE READING

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