We estimate the rate of embodied technological change directly from plant-level manufacturing data on current output and input choices along with histories on their vintages of equipment investment. Our estimates range between 8 and 17 percent for the typical U.S. manufacturing plant during the...

Economic theory indicates that opportunity- cost considerations tend to make schooling countercyclical whereas ability-to-pay considerations have the opposite effect. We examine the college enrollment decisions of individuals in the US using the Current Population Survey and find that their...

Personal computer prices decline rapidly with age. The price of a four-year-old used computer is almost one tenth of the price of a new one. This paper provides new evidence on why prices of personal computers decline so rapidly as they age, using online auction data from eBay. An innovative...

We estimate the rate of embodied technological change directly from plant-level manufacturing data on current output and input choices along with histories on their vintages of equipment investment. Our estimates range between 8 and 17 percent for the typical U.S. manufacturing plant during the...