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Vintage Capital, Optimal Investment and Technology Adoption

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Author Info

  • Benteng, ZOU

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

Abstract

In this paper, we study a vintage capital model under a general equilibrium setting. In this model firms can invest not only on a new vintage capital goods, but also on existing ones. We show that the capital accumulation is a single hum-shape function, featuring slow technology diffusion.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2003027.

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Length: 25
Date of creation: 01 Dec 2003
Date of revision:
Handle: RePEc:ctl:louvir:2003027

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Keywords: Embodiment; Technology adoption; Vintage capital;

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