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Tasa de depreciación endógena y crecimiento económico

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Julián David Parada ()

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Abstract

En este trabajo se estudian las características de los incentivos para invertir en bienes de capital con mayor durabilidad. Se considera el hecho de que las economías que invierten en bienes de capital menos duraderos pueden tener menor crecimiento económico. Se elabora un modelo teórico en el que la tasa de depreciación es endógena y su reducción refleja innovaciones tecnológicas. Las tecnologías se diferencian por la tasa de depreciación y aquellas que son más durables son más costosas. Esta estructura puede conducir a dos estados estacionarios debido a la complementariedad entre el capital y la tasa de depreciación. El principal resultado del documento es que se encuentran trampas de pobreza asociadas con altas tasas de depreciación. ************************************************************************************************************************ We study the features of the incentives for investing in capital goods with higer durability. We argue that economies which invest in capital goods with less durability may have a lower economic growth. We build a theoretical model with endogenous depreciation rate. The model we present is one of technical innovations. Technologies are differentiated by depreciation rates and smaller depreciation rates are more costly. In this setting there can be more than one steady state because of the complementarity between capital and depreciation rates. The main result of the paper is the existence of poverty traps with high depreciation rates.

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Paper provided by UNIVERSIDAD DEL ROSARIO - FACULTAD DE ECONOMÍA in its series DOCUMENTOS DE TRABAJO with number 004594.

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Length: 35
Date of creation: 06 Apr 2008
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Handle: RePEc:col:000092:004594

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  5. Hakkio, Craig S. & Petersen, Bruce C., 1990. "A note on physical depreciation and the capital accumulation process," Journal of Development Economics, Elsevier, vol. 34(1-2), pages 385-395, November. [Downloadable!] (restricted)
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  12. Daniel Mejía & Carlos Esteban Posada, 2003. "Capital Destruction, Optimal Defense and Economic Growth," BORRADORES DE ECONOMIA 002096, BANCO DE LA REPÚBLICA. [Downloadable!]
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  13. Stephen Enke, 1962. "Production Functions and Capital Depreciation," Journal of Political Economy, University of Chicago Press, vol. 70, pages 368. [Downloadable!] (restricted)
  14. Wykoff, Frank C, 1970. "Capital Depreciation in the Postwar Period: Automobiles," The Review of Economics and Statistics, MIT Press, vol. 52(2), pages 168-72, May. [Downloadable!] (restricted)
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