Endogenous Growth Theory in a Vintage Capital Model

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Endogenous Growth Theory in a Vintage Capital Model

Author Info

Pranab Bardhan (Department of Economics, University of California, Berkeley)
Rodrigo Priale (Escuela de Administracion de Negocios para Graduados Apartado, Peru)

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Pranab K. Bardhan

Abstract

This is a model of quality ladder of machines in an endogenous growth context, when some machines are scrapped while others coexist with the latest variety, with the economic life of machines endogenously determined as in old vintage-capital models. Policies that affect this economic life of machines (for example, those influencing the gross savings or investment rate, or trade policy in a two-sector open economy) will have an effect on the long-run growth rate.

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Publisher Info
Paper provided by Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley in its series Center for International and Development Economics Research, Working Paper Series with number 1040.

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Date of creation: 07 Jun 1996
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Handle: RePEc:cdl:ciders:1040

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Paper
- Pranab Bardhan and Rodrigo Priale., 1996. "Endogenous Growth Theory in a Vintage Capital Model," Center for International and Development Economics Research (CIDER) Working Papers C96-069, University of California at Berkeley.

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Chari, V V & Hopenhayn, Hugo, 1991. "Vintage Human Capital, Growth, and the Diffusion of New Technology," Journal of Political Economy, University of Chicago Press, vol. 99(6), pages 1142-65, December. [Downloadable!] (restricted)
Bardhan, Pranab & Kletzer, Ken, 1984. "Dynamic effects of protection on productivity," Journal of International Economics, Elsevier, vol. 16(1-2), pages 45-57, February. [Downloadable!] (restricted)
Ethier, Wilfred J, 1982. "National and International Returns to Scale in the Modern Theory of International Trade," American Economic Review, American Economic Association, vol. 72(3), pages 389-405, June. [Downloadable!] (restricted)
Redding, S., 1995. "Is There a Penalty to being a Pioneer," Economics Papers 109, Economics Group, Nuffield College, University of Oxford.
Bardhan, Pranab, 1969. "Equilibrium Growth in a Model with Economic Obsolescence of Machines," The Quarterly Journal of Economics, MIT Press, vol. 83(2), pages 312-23, May. [Downloadable!] (restricted)
Other versions:
- P. K. Bardhan, 1968. "Equilibrium Growth in a Model with Economic Obsolescence of Machines," Working papers 17, Massachusetts Institute of Technology (MIT), Department of Economics.
Boucekkine, Raouf & Germain, Marc & Licandro, Omar, 1997. "Replacement Echoes in the Vintage Capital Growth Model," Journal of Economic Theory, Elsevier, vol. 74(2), pages 333-348, June. [Downloadable!] (restricted)
Other versions:
- Raouf Boucekkine & Marc Germain & Omar Licandro, . "Replacement echoes in the vintage capital growth model," Working Papers 96-16, FEDEA.
Segerstrom, Paul S & Anant, T C A & Dinopoulos, Elias, 1990. "A Schumpeterian Model of the Product Life Cycle," American Economic Review, American Economic Association, vol. 80(5), pages 1077-91, December. [Downloadable!] (restricted)
Wolff, Edward N, 1991. "Capital Formation and Productivity Convergence over the Long Term," American Economic Review, American Economic Association, vol. 81(3), pages 565-79, June. [Downloadable!] (restricted)
Edmond S. Phelps, 1962. "Substitution, Fixed Proportions, Growth and Distribution," Cowles Foundation Discussion Papers 133, Cowles Foundation, Yale University. [Downloadable!]
Gene M. Grossman & Elhanan Helpman, 1991. "Quality Ladders in the Theory of Growth," NBER Working Papers 3099, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Grossman, G.M. & Helpman, E., 1989. "Quality Ledders In The Theory Of Growth," Papers 148, Princeton, Woodrow Wilson School - Public and International Affairs.
- Grossman, Gene M & Helpman, Elhanan, 1991. "Quality Ladders in the Theory of Growth," Review of Economic Studies, Blackwell Publishing, vol. 58(1), pages 43-61, January. [Downloadable!] (restricted)
Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
Other versions:
- Paul Romer, 1991. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
De Long, J Bradford & Summers, Lawrence H, 1991. "Equipment Investment and Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 445-502, May. [Downloadable!] (restricted)
Other versions:
- J. Bradford De Long & Lawrence H. Summers, . "Equipment Investment and Economic Growth," J. Bradford De Long's Working Papers _122, University of California at Berkeley, Economics Department. [Downloadable!]
- J. Bradford De Long & Lawrence H. Summers, 1990. "Equipment Investment and Economic Growth," NBER Working Papers 3515, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Raouf BOUCEKKINE & Fernando DEL RIO & Omar LICANDRO, 2002. "Obsolescence and Modernization in the Growth Process," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002043, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
Other versions:
- BOUCEKKINE, Raouf & del RIO, Fernando & LICANDRO, Omar, 2002. "Obsolescence and modernizationn in the growth process," CORE Discussion Papers 2002067, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
- Raouf BOUCEKKINE & Fernando DEL RIO & Omar LICANDRO, 2001. "Obsolescence and Modernization in the Growth Process," Economics Working Papers ECO2001/18, European University Institute. [Downloadable!]
- Boucekkine, Raouf & del Rio, Fernando & Licandro, Omar, 2005. "Obsolescence and modernization in the growth process," Journal of Development Economics, Elsevier, vol. 77(1), pages 153-171, June. [Downloadable!] (restricted)
Peter Funk, 2005. "Competition and Growth in a Vintage Knowledge Model," Working Paper Series in Economics 15, University of Cologne, Department of Economics. [Downloadable!]

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