The Distribution of the U.S. Capital Stock between Residential and Industrial Uses

21 Pages Posted: 6 Jul 2004

See all articles by Martin S. Feldstein

Martin S. Feldstein

National Bureau of Economic Research (NBER) (deceased); Harvard University (deceased)

Date Written: February 1980

Abstract

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.

Suggested Citation

Feldstein, Martin S., The Distribution of the U.S. Capital Stock between Residential and Industrial Uses (February 1980). NBER Working Paper No. w0448, Available at SSRN: https://ssrn.com/abstract=262070

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