Measuring the rate of technological progress in structures

Gort, Michael; Greenwood, Jeremy; Rupert, Peter

doi:10.26509/frbc-wp-199806

Working Paper

Measuring the rate of technological progress in structures

Abstract: An effort to measure technological progress in structures by using panel data on the age and rents of buildings in a vintage capital model, where buildings are replaced at some chosen periodicity. It finds that there has been significant technological advance in structures, which accounts for a major part of economic growth.

Keywords: Technology; Capital investments;

https://doi.org/10.26509/frbc-wp-199806