Market Conditions and Retirement of Physical Capital: Evidence fron Oil Tankers
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The endogeneity of capital retirements is studied for the particular case of oil tankers from 1979--1989. A model is estimated to examine the effect of changes in market conditions on the price and scrappage of tankers. Energy price rises had a major impact on the value of ships and on which ships
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美国国家经济研究局创建时间：
1992-10-01
