Measuring the Returns to R&D: The Depreciation Problem

Bronwyn H. Hall

NBER Working Paper No. 13473
Issued in October 2007, Revised in July 2009

---- Acknowledgments ----

This is a revision of a paper presented at the International Conference in memory of Zvi Griliches, Paris, August 2003 and the Conference in memory of Tor Jakob Klette, Oslo, Norway, in August 2004. The paper has benefited from comments by participants in those conferences and especially from comments by three referees and the editors of this special issue. The current version contains typesetting corrections as of July 2009. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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