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

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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.

Suggested Citation

  • Raouf Boucekkine & Natali Hritonenko & Yuri Yatsenko, 2013. "On the Optimal Control of the Vintage Capital Growth Model with Endogenous Labour Supply," AMSE Working Papers 1303, Aix-Marseille School of Economics, Marseille, France, revised 05 Feb 2013.
  • Handle: RePEc:aim:wpaimx:1303
    Note: C61, C62, O40
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    File URL: http://www.amse-aixmarseille.fr/sites/default/files/_dt/2012/wp_2013_-_nr_03_1.pdf
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    References listed on IDEAS

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    1. Boucekkine, Raouf & Germain, Marc & Licandro, Omar & Magnus, Alphonse, 1998. "Creative Destruction, Investment Volatility, and the Average Age of Capital," Journal of Economic Growth, Springer, vol. 3(4), pages 361-384, December.
    2. 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.
    3. repec:cor:louvrp:-1376 is not listed on IDEAS
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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.

    More about this item

    Keywords

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

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