Hamilton, Bruce W; Macauley, Molly K - In: Journal of Industrial Economics 47 (1999) 3, pp. 251-61
Over the past 25 years the longevity of automobiles has increased dramatically. We disentangle the rise in longevity into an embodied or inherent-durability effect and a disembodied effect (driven by the external environment, such as reduced accident rates or reductions in the prices of auto...