TY  - JOUR
AU  - Feldstein,Martin
TI  - The Distribution of the U.S. Capital Stock Between Residential and Industrial Uses
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 448
PY  - 1980
Y2  - February 1980
UR  - http://www.nber.org/papers/w0448
L1  - http://www.nber.org/papers/w0448.pdf
N1  - Author contact info:
Martin S. Feldstein
President Emeritus
NBER
1050 Massachusetts Avenue
Cambridge, MA  02138-5398
Tel: 617/868-3905
Fax: 617/868-7194
E-Mail: msfeldst@nber.org
AB  - The purpose of the present study is to measure the extent to which an increase in the total capital stock induces an increase in the stock of residential capital, i.e., to measure the marginal propensity of additional capital to be absorbed in residential capital. A knowledge of this propensity is important to evaluate the national return on additional saving and to understand the impact that an increased capital stock could have on labor productivity and on the composition of national output. The present paper provides both a theoretical and an empirical examination of this question.
ER  -