The Age of Capital, the Age of Utilized Capital, and Tests of the Embodiment Hypothesis
早期检验体现假说（新资本比旧资本更有效率）的研究可能因使用资本年龄而非利用年龄而存在偏差。本文通过使用资本利用年龄纠正测量偏差，发现体现假说成立。
Early tests of the embodiment hypothesis, which suggests that new capital is more productive than old, may have been biased due to the incorrect use of age, rather than utilized age of capital. This study, which attempts to correct for the potential mismeasurement bias by using the utilized age of capital in the analysis, finds evidence that the embodiment hypothesis is valid.