This value is converted to real value using the BEA deflator, and the real investment is added to the year r-1 base ... equation that allows railroad equipment to depreciate exponentially over 25 years to a salvage value of 10 percent. The 25-year assumption is based on the age distribution of railroad locomotive and freight car fleets reported in Moodya#39;s Transportation Manual. ... This makes the calculation of way-and-structures investment straightforward but creates a transition problem, anbsp;...
|Title||:||Brookings Papers on Economic Activity|
|Publisher||:||Dramatists Play Service Inc -|