Endogenous Growth Theory in a Vintage Capital Model
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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|Date of creation:||01 Jun 1996|
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- Boucekkine, R. & Germain, M. & Licandro, O., . "Replacement echoes in the vintage capital growth model," CORE Discussion Papers RP 1275, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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17, Massachusetts Institute of Technology (MIT), Department of Economics.
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NBER Working Papers
3099, National Bureau of Economic Research, Inc.
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