IDEAS home Printed from
   My bibliography  Save this paper

Crecimiento económico y generaciones de capital


  • Raouf Boucekkine
  • Omar Licandro
  • Luis A. Puch


En este artículo se discute el papel que juega la edad del capital en el crecimiento económico. Con este objetivo revisamos algunos resultados al respecto en modelos de crecimiento endógeno en los que el capital físico es heterogéneo por razón de la edad (vintage capital). Cuando las nuevas máquinas contribuyen al stock de capital, o de conocimiento disponible en la economía, de la misma manera que las máquinas heredadas del pasado, entonces la edad de los equipos no juega ningún papel. Sin embargo, este supuesto que está implícito en el modelo de Arrow de Learning by Doing es muy restrictivo, y en general, la edad del capital tiene efectos sobre el crecimiento económico. En claro contraste con el modelo AK estándar que resulta de los supuestos de Arrow, la inclusión de vintage capital en el modelo AK da lugar a una dinámica oscilatoria gobernada por ecos de reemplazo. Este mecanismo puede contribuir a explicar las desviaciones que se observan en los datos de series temporales entre tasa de crecimiento y tasa de inversión. Más aún, cuando se incorpora la depreciación en los efectos de la experiencia en el modelo de Learning by Doing, dicho mecanismo opera también, y da lugar a una serie de implicaciones de relevancia empírica que se discuten en el artículo.

Suggested Citation

  • Raouf Boucekkine & Omar Licandro & Luis A. Puch, 2006. "Crecimiento económico y generaciones de capital," Working Papers 2006-28, FEDEA.
  • Handle: RePEc:fda:fdaddt:2006-28

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. 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.
    3. Charles I. Jones, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 495-525.
    4. 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.
    5. R. M. Solow & J. Tobin & C. C. von Weizsäcker & M. Yaari, 1966. "Neoclassical Growth with Fixed Factor Proportions," Review of Economic Studies, Oxford University Press, vol. 33(2), pages 79-115.
    6. Benhabib, Jess & Rustichini, Aldo, 1991. "Vintage capital, investment, and growth," Journal of Economic Theory, Elsevier, vol. 55(2), pages 323-339, December.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. d’Albis, Hippolyte & Augeraud-Veron, Emmanuelle & Venditti, Alain, 2012. "Business cycle fluctuations and learning-by-doing externalities in a one-sector model," Journal of Mathematical Economics, Elsevier, vol. 48(5), pages 295-308.
    2. repec:hal:journl:halshs-00717198 is not listed on IDEAS

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fda:fdaddt:2006-28. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carmen Arias). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.