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dc.contributor.authorBokhari, Sheharyar
dc.contributor.authorGeltner, David M
dc.date.accessioned2020-08-26T15:06:17Z
dc.date.available2020-08-26T15:06:17Z
dc.date.issued2018-04
dc.identifier.issn0034-6586
dc.identifier.urihttps://hdl.handle.net/1721.1/126818
dc.description.abstractCommercial buildings are a major asset class, over 30 percent of the value of the stock of all produced assets according to the BEA. Yet, US commercial buildings depreciation has not been comprehensively studied since the highly influential work of Hulten and Wykoff almost 40 years ago. This paper's major contributions include: (i) More flexible and precise estimation of the net depreciation value/age profile, allowing much finer characterization of the building life cycle; (ii) Explicit quantification of the land value component of commercial property value, enabling net depreciation to be quantified as a fraction of remaining structure value; (iii) Inclusion of capital improvement expenditures, allowing estimates of “gross depreciation” (total capital consumption); and (iv) Implications of the paper's findings to and for the national accounts.en_US
dc.language.isoen
dc.publisherWileyen_US
dc.relation.isversionof10.1111/ROIW.12357en_US
dc.rightsCreative Commons Attribution-Noncommercial-Share Alikeen_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/4.0/en_US
dc.sourceSSRNen_US
dc.titleCommercial Buildings Capital Consumption and the United States National Accountsen_US
dc.typeArticleen_US
dc.identifier.citationBokhari, Sheharyar and David Geltner. “Commercial Buildings Capital Consumption and the United States National Accounts.” Review of Income and Wealth, 65, 3 (April 2018): 561-591 © 2018 The Author(s)en_US
dc.contributor.departmentMassachusetts Institute of Technology. Center for Real Estateen_US
dc.contributor.departmentMassachusetts Institute of Technology. Department of Urban Studies and Planningen_US
dc.relation.journalReview of Income and Wealthen_US
dc.eprint.versionOriginal manuscripten_US
dc.type.urihttp://purl.org/eprint/type/JournalArticleen_US
eprint.statushttp://purl.org/eprint/status/NonPeerRevieweden_US
dc.date.updated2020-08-25T17:41:33Z
dspace.date.submission2020-08-25T17:41:35Z
mit.journal.volume65en_US
mit.journal.issue3en_US
mit.licenseOPEN_ACCESS_POLICY
mit.metadata.statusComplete


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