Abstract
Vintages are durable goods acquired at different points of time. The acquisition prices for capital goods of each vintage at each point of time together with investments of all vintages at each point of time constitute the basic data on quantities and prices. These data can be employed in generating the complete vintage accounting system.
Keywords
- Capital measurement
- Capital services
- Depreciation
- Durable goods model of production
- Investment
- Jorgenson, D. W.
- Price–quantity duality
- Production functions
- Rate of return
- Vintage accounting
- Vintages
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Jorgenson, D.W. (2018). Vintages. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1402
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1402
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Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
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