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The Theorem of Proportionality in Contemporary Capital Theory: An Assessment of its Applicability
2009
Social Science Research Network
This paper surveys and assesses the empirical literature that bears on the applicability of the theorem of proportionality, which asserts that depreciation is proportional to the outstanding capital stock. All available evidence shows that: a) the rates of depreciation and retirements vary from year to year in response to changes in conventional economic forces like utilization, maintenance and repair, the prices of new capital goods, etc., and b) while the approximation of the distribution of
doi:10.2139/ssrn.1533708
fatcat:q4rdpwqhbffvfmczy4s6iyrr4e