Work

Equipment Investment and Economic Growth

Year: 1990

Type: article

Abstract: 2Jorgenson's [1988] work highlights that equipment investment will have a larger short-run effect on growth in gross product than other torms of invesmient because of equipment's higher depreciation rate even if private and social returns to different forms of investment are equalized.In the long run, however.equipment's higher depreciation rate leads it to have a smaller effect on growth.We discuss these issues in the conclusion.

Source: The Quarterly Journal of Economics

DOI: 10.3386/w3515

Authors: J. Bradford De Long, Lawrence H. Summers

Institutions: National Bureau of Economic Research, Harvard University, Federal Reserve Bank of San Francisco, University of California, Berkeley

Language: English

Topic: Economic Growth and Productivity

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

OpenAlex ID: W2152422958

FWCI: 81.08

Cites: 40

Cited by: 1,716

Related to: 10