Alternative capital asset depreciation rates for U.S. capital and total factor productivity measures

The U.S. Bureau of Economic Analysis (BEA) and the Labor Statistics (BLS) use estimates depreciation rates for structures equipment to construct capital stock from data on investments. are based research by Frank C. Wykoff Charles R. Hulten 1980s. More recent studies Canada, 2007 2015, Canadian used asset transactions Canada’s Annual Capital Repair Expenditures Survey establishments. They found faster rates, especially structures. Sheharyar Bokhari David Geltner’s 2019 study prices also To illustrate potential effects implementing these newer studies, we created a concordance match categories. We reestimated BEA measures BLS total factor productivity (TFP) using Survey. Using results in substantially lower net stocks higher accounts but has minimal growth TFP accounts.