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On the Optimal Control of the Vintage Capital Growth Model with Endogenous Labour Supply

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Author Info

  • Raouf Boucekkine

    ()
    (AMSE - Aix-Marseille School of Economics - Aix-Marseille Univ. - Centre national de la recherche scientifique (CNRS) - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - Ecole Centrale Marseille (ECM), IRES-CORE - Université Catholique de Louvain)

  • Natali Hritonenko

    ()
    (Prairie View - A&M University)

  • Yuri Yatsenko

    ()
    (School of business, Houston Baptist University - Houston Baptist University)

Abstract

We prove that the introduction of endogenous indivisible labor supply into the vintage capital growth model does not rule out the turnpike and optimal permanent regime properties, notably the non- monotonicity properties of optimal paths, inherent in this model.

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Bibliographic Info

Paper provided by HAL in its series Working Papers with number halshs-00796184.

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Date of creation: Feb 2013
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Handle: RePEc:hal:wpaper:halshs-00796184

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00796184
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Related research

Keywords: Optimal control; integral equations with delays and advances; vintage capital; endogenous labor supply;

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References

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  1. Raouf Boucekkine & Marc Germain & Omar Licandro, . "Replacement echoes in the vintage capital growth model," Working Papers 96-16, FEDEA.
  2. R. Boucekkine & M. Germain & O. Licandro & A. Magnus, . "Creative destruction, investment volatility, and the average age of capital," Working Papers 97-08, FEDEA.
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Cited by:
  1. Raouf Boucekkine & Natali Hritonenko & Yuri Yatsenko, 2013. "Health, Work Intensity, and Technological Innovations," Working Papers halshs-00805199, HAL.

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