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Economic Perspectives, Vol. 28, 3rd, No. 3, August 2004
You can’t take it with you: Asset run-down at the end of the life cycle
There are several econometric problems with the existing evidence on asset run-down. We discuss these problems, as well as our approach to overcoming them. We find that whereas the usual approach for documenting asset run-down at the end of the life cycle shows some evidence of run-down, correcting for some important econometric problems removes almost all traces of asset run-down.

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