Capital maintenance and depreciation over the business cycle

Albonico, Alice; Kalyvitis, Sarantis; Pappa, Evi

Capital maintenance and depreciation over the business cycle

Author(s): Albonico, Alice; Kalyvitis, Sarantis; Pappa, Evi

Publisher: Elsevier

Issued date: 2014-02-01

Citation: Albonico, A., Kalyvitis, S., & Pappa, E. (2014). Capital maintenance and depreciation over the business cycle. Journal of Economic Dynamics and Control, 39, pp. 273–286.

ISSN: 0165-1889

DOI: https://doi.org/10.1016/j.jedc.2013.12.008

xmlui.dri2xhtml.METS-1.0.item-contributor-funder: Ministerio de Ciencia e Innovación (España)
Generalitat de Catalunya

Sponsor: Financial support from AUEB Basic Research Funding Program (Contract Number: ΕΡ-1710--28) is acknowledged by Sarantis Kalyvitis. The financial support from the Spanish Ministry of Science and Innovation through grant ECO2012-32392 and the Generalitat of Catalonia through grant SGR2009-00350 is acknowledged by Evi Pappa.

Project: Gobierno de España. ECO2012-32392
Generalitat de Catalunya. SGR2009-00350

Keywords: Real business cycle , Endogenous capital depreciation , Maintenance

JEL Classification: E22 , E32 , E37

URI: http://hdl.handle.net/10016/34790

Rights: © Elsevier, 2013
Atribución-NoComercial-SinDerivadas 3.0 España

Abstract:

This paper develops and estimates a stochastic general equilibrium model with capital maintenance, which affects endogenously the depreciation rate of capital. The estimate of maintenance series is found to track survey-based measures for Canada quite closely [+]

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