• AEA
  • About the AEA
  • Committees
  • Honors & Awards
  • For Graduate Students
  • For Undergrad Students
  • News & Notes
  • Officers
  • General Information
  • Minutes
  • UA Questionnaire
  • Continuing Education
  • Directory of Members
  • Call for Papers
  • Media
• Journals
  • AEJ: Applied Economics
  • AEJ: Economic Policy
  • AEJ: Macroeconomics
  • AEJ: Microeconomics
  • American Economic Review
  • Journal of Economic Literature
  • Journal of Economic Perspectives
  • eTOCs
  • Virtual Field Journals
  • Institutional Subscriptions
  • AEA Journals on JSTOR
  • Ads in Journals
  • Back Issues Order Forms
  • Copyright & Permissions
• Annual Meeting
  • Submissions
  • Registration/Housing
  • Preliminary Program
  • ASSA 2013 App
  • Annual Meeting Papers
  • Annual Meeting Webcasts
  • Disclosure Code Information
  • Exhibitors
  • Exhibitors & Advertisers Forms
  • Special Event Form
  • Continuing Education
  • Econ-Harmony
  • Archive of Past Programs
• EconLit
  • EconLit Access
  • EconLit Deskop Link
  • EconLit for Members
  • JEL Codes Guide
  • JEL Classifications
  • Journal List
  • Contacts/Corrections
  • Upcoming Exhibits
  • Document Types
  • Search Hints
• Jobs
  • JOE Listings
  • Submit a JOE Listing
  • Job Market Signaling
  • Job Market Scramble
  • Available Retired Faculty
• Resources
  • Resources For Economists
  • RFE Abridged Contents
  • RFE Search
  • RFE Conferences
  • Econ Search Engine
• Members
  • Member Login
  • Become a Member
  • Directory of Members
  • EconLit for Members
  • AEA Journals on JSTOR
  • Econ-Harmony
  • Annual Meeting Webcasts
  • Browse JEL Indexes
  • Virtual Field Journals
  • Institutional Subscriptions

View Settings

This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.

Open in Dialog
Open in New Tab
Open in same window

American Economic Journal: Macroeconomics: Vol. 4 No. 2 (April 2012)

AEJ: Macro Volume. 4, Issue 2 | Previous Article

Expand

Quick Tools:

Print Article Summary Email Link to this Article

To Email:

From Email:

Message:

Email Link to Article Change Captcha Export Citation

BibTeX EndNote Refer/BibIX RIS Tab-Delimited Export Sign up for Email Alerts Follow us on Twitter Subscription Information
(Institutional Administrator Access)

Explore:

AEJ: Macro - All Issues

AEJ: Macro Forthcoming Articles

How Important Is Technology Capital for the United States?

Article Citation

Kapička, Marek. 2012. "How Important Is Technology Capital for the United States?." American Economic Journal: Macroeconomics, 4(2): 218-48.

DOI: 10.1257/mac.4.2.218

Abstract

I construct measures of technology capital and country openness for the US economy and the rest of the world for 1982-2007. The key identifying assumption is that firms equalize returns on tangible and technology capital. For the US economy, technology capital is about one-third of tangible capital, and the degree of openness is between 0.61 and 0.70. I provide both a two-country estimation and a multicountry estimation, and find that the US estimates are almost identical in both cases. The welfare loss from totally closing the US economy is small, but the welfare gain from totally opening the US economy is large. (JEL E22, F41, O30)

Article Full-Text Access

Full-text Article

Additional Materials

Download Data Set (34.69 MB)

Authors

Kapička, Marek (U CA, Santa Barbara)

JEL Classifications

E22: Capital; Investment; Capacity
F41: Open Economy Macroeconomics
O30: Technological Change; Research and Development; Intellectual Property Rights: General

Comments

View Comments on This Article (0) | Login to post a comment