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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 - EHESS - École des hautes études en sciences sociales - Centre national de la recherche scientifique (CNRS) - Ecole Centrale Marseille (ECM) - AMU - Aix-Marseille Université, IRES-CORE - UCL - 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
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  1. repec:cor:louvrp:-1376 is not listed on IDEAS
  2. 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).
  3. 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).
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