The authors show that there is more responsiveness of consumption and output to changes in the money supply than exists in the standard neoclassical growth models.

An estimation of components of public capital stock for 38 metropolitan areas from 1953 to 1981, using the perpetual inventory method. These series are used to estimate the effect of public capital stock on regional manufacturing production.

An effort to measure technological progress in structures by using panel data on the age and rents of buildings in a vintage capital model, where buildings are replaced at some chosen periodicity. It finds that there has been significant technological advance in structures, which accounts for a...