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

  • Raouf Boucekkine

    ()

    (AMSE - Aix-Marseille School of Economics - Aix-Marseille Univ. - Centre national de la recherche scientifique (CNRS) - École des Hautes Études 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)

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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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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  1. Boucekkine, Raouf, et al, 1998. " Creative Destruction, Investment Volatility, and the Average Age of Capital," Journal of Economic Growth, Springer, vol. 3(4), pages 361-84, December.
  2. BOUCEKKINE, Raouf & GERMAIN, Marc & LICANDRO, Omar & MAGNUS, Alphonse, . "Creative destruction, investment volatility, and the average age of capital," CORE Discussion Papers RP -1376, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. 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.
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