Endogenous capital utilization in a short-run production model

A conditional directional distance function approach for measuring regional environmental efficiency: Evidence from UK regions

“…These are the total regional labour force (employed peopleall NACE activities in thousands) and regional capital stock (millions of euros). Regional capital stock for the year 2007 is not available; therefore we have calculated it following the perpetual inventory method (Feldstein and Foot, 1971;Epstein and Denny, 1980) as:…”

Renewable energy consumption and economic efficiency: Evidence from European countries

“…However, since countries' capital stock values are not available, we have calculated them using the perpetual inventory method (Feldstein and Foot, 1971;Epstein and Denny, 1980;Nadiri and Prucha, 1996) as: …”

Estimation of a variable rate of depreciation: a dummy variable approach

“…Suppose Z t = (1,^)', then the depreciation rate is a linear function of t, or if Z t = (l,CUt), where CU t denotes a measure of capacity utilization, then we obtain the specification considered by Bischoff and Kokkelenberg (1987). The models considered in Epstein and Denny (1980), Kollintzas and Choi (1985) and Prucha and Nadiri (1994) are also readily seen to be special cases of (5) with a(Z t ,9,a) = a and where f(Z t ,9,a) represents some function of prices and outputs.…”

“…While the perpetual inventory method permits the incorporation of detailed information/assumptions (concerning the mean useful life of assets, the retirement distribution centered on that live and on efficiency pattern), these assumptions and hence the implied estimates of the depreciation rates are typically not subjected to rigorous econometric testing. Recently, however, there have been several studies that provide econometric estimates of the depreciation rates of the stocks of physical and/or R&D capital goods; see, e.g., Epstein and Denny (1980), Kokkelenberg(1984), Kollintzas and Choi (1985), Bischoff and Kokkelenberg (1987), Nadiri and Prucha (1994) and Prucha and Nadiri (1994).…”