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Anticipation effects of technological progress on capital accumulation : A vintage capital approach

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  • Feichtinger, G.
  • Hartl, R.F.
  • Kort, P.M.

    (Tilburg University, School of Economics and Management)

  • Veliov, V.M.

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  • Feichtinger, G. & Hartl, R.F. & Kort, P.M. & Veliov, V.M., 2006. "Anticipation effects of technological progress on capital accumulation : A vintage capital approach," Other publications TiSEM 9a8debb0-5030-46fa-b89e-b, Tilburg University, School of Economics and Management.
  • Handle: RePEc:tiu:tiutis:9a8debb0-5030-46fa-b89e-b31f24c72e1b
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    References listed on IDEAS

    as
    1. Huisman, K.J.M. & Kort, P.M., 1999. "Strategic Technology Investment under Uncertainty," Discussion Paper 1999-18, Tilburg University, Center for Economic Research.
    2. Malcomson, James M., 1975. "Replacement and the rental value of capital equipment subject to obsolescence," Journal of Economic Theory, Elsevier, vol. 10(1), pages 24-41, February.
    3. repec:ucp:bknber:9780226304557 is not listed on IDEAS
    4. Feichtinger, G. & Hartl, R.F. & Kort, P.M. & Veliov, V., 2001. "Dynamic Investment Behavior Taking into Account Ageing of the Capital Good," Discussion Paper 2001-13, Tilburg University, Center for Economic Research.
    5. Boucekkine, Raouf & Licandro, Omar & Paul, Christopher, 1997. "Differential-difference equations in economics: On the numerical solution of vintage capital growth models," Journal of Economic Dynamics and Control, Elsevier, vol. 21(2-3), pages 347-362.
    6. 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.
    7. Wirl, Franz, 2002. "Stability and limit cycles in competitive equilibria subject to adjustment costs and dynamic spillovers," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 375-398, March.
    8. Michael R. Pakko, 2002. "What Happens When the Technology Growth Trend Changes?: Transition Dynamics, Capital Growth and the 'New Economy'," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 376-407, April.
    9. Boucekkine, Raouf & Germain, Marc & Licandro, Omar & Magnus, Alphonse, 2001. "Numerical solution by iterative methods of a class of vintage capital models," Journal of Economic Dynamics and Control, Elsevier, vol. 25(5), pages 655-669, May.
    10. 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.
    11. Xepapadeas, Anastasios & de Zeeuw, Aart, 1999. "Environmental Policy and Competitiveness: The Porter Hypothesis and the Composition of Capital," Journal of Environmental Economics and Management, Elsevier, vol. 37(2), pages 165-182, March.
    12. Michael T. Kiley, 1999. "Computers and growth with costs of adjustment: will the future look like the past?," Finance and Economics Discussion Series 1999-36, Board of Governors of the Federal Reserve System (U.S.).
    13. Boucekkine, Raouf & del Rio, Fernando & Licandro, Omar, 1999. "Endogenous vs Exogenously Driven Fluctuations in Vintage Capital Models," Journal of Economic Theory, Elsevier, vol. 88(1), pages 161-187, September.
    14. Emilio Barucci & Fausto Gozzi, 2001. "Technology adoption and accumulation in a vintage-capital model," Journal of Economics, Springer, vol. 74(1), pages 1-38, February.
    15. Boyan Jovanovic, 1998. "Vintage Capital and Inequality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 497-530, April.
    16. Stenbacka, Rune & Tombak, Mihkel M., 1994. "Strategic timing of adoption of new technologies under uncertainty," International Journal of Industrial Organization, Elsevier, vol. 12(3), pages 387-411, September.
    17. Benhabib, Jess & Rustichini, Aldo, 1991. "Vintage capital, investment, and growth," Journal of Economic Theory, Elsevier, vol. 55(2), pages 323-339, December.
    18. Pawlina, G., 2003. "Corporate investment under uncertainty and competition : A real options approach," Other publications TiSEM 060690af-22f3-485f-9dab-7, Tilburg University, School of Economics and Management.
    19. Dekle, Robert, 2001. "A note on growth accounting with vintage capital," Economics Letters, Elsevier, vol. 72(2), pages 263-267, August.
    20. Greenwood, Jeremy & Hercowitz, Zvi & Krusell, Per, 1997. "Long-Run Implications of Investment-Specific Technological Change," American Economic Review, American Economic Association, vol. 87(3), pages 342-362, June.
    21. Robert J. Gordon, 1990. "The Measurement of Durable Goods Prices," NBER Books, National Bureau of Economic Research, Inc, number gord90-1, December.
    22. Mehmet Yorukoglu, 1998. "The Information Technology Productivity Paradox," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 551-592, April.
    23. Barucci, Emilio & Gozzi, Fausto, 1998. "Investment in a vintage capital model," Research in Economics, Elsevier, vol. 52(2), pages 159-188, June.
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    Cited by:

    1. Fabbri, Giorgio & Faggian, Silvia & Freni, Giuseppe, 2015. "On the Mitra–Wan forest management problem in continuous time," Journal of Economic Theory, Elsevier, vol. 157(C), pages 1001-1040.
    2. Raouf Boucekkine & David De la Croix & Omar Licandro, 2011. "Vintage Capital Growth Theory: Three Breakthroughs," Working Papers 565, Barcelona Graduate School of Economics.
    3. Ulrich Brandt-Pollmann & Ralph Winkler & Sebastian Sager & Ulf Moslener & Johannes Schlöder, 2008. "Numerical Solution of Optimal Control Problems with Constant Control Delays," Computational Economics, Springer;Society for Computational Economics, vol. 31(2), pages 181-206, March.
    4. Feichtinger, Gustav & Hartl, Richard F. & Kort, Peter M. & Veliov, Vladimir M., 2008. "Financially constrained capital investments: The effects of disembodied and embodied technological progress," Journal of Mathematical Economics, Elsevier, vol. 44(5-6), pages 459-483, April.
    5. M. Chahim & D. Grass & R. F. Hartl & P. M. Kort, 2017. "Product innovation with lumpy investment," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 25(1), pages 159-182, March.
    6. Kuhn, Michael & Frankovic, Ivan & Wrzaczek, Stefan, 2017. "Medical Progress, Demand for Health Care, and Economic Performance," Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168249, Verein für Socialpolitik / German Economic Association.
    7. Kredler, Matthias, 2014. "Vintage human capital and learning curves," Journal of Economic Dynamics and Control, Elsevier, vol. 40(C), pages 154-178.
    8. Faggian, Silvia & Gozzi, Fausto, 2010. "Optimal investment models with vintage capital: Dynamic programming approach," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 416-437, July.
    9. Fabbri, Giorgio & Gozzi, Fausto, 2008. "Solving optimal growth models with vintage capital: The dynamic programming approach," Journal of Economic Theory, Elsevier, vol. 143(1), pages 331-373, November.
    10. Ivan Frankovic & Michael Kuhn & Stefan Wrzaczek, 2016. "Medical Care within an OLG Economy with Realistic Demography," VID Working Papers 1603, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
    11. repec:spr:joptap:v:154:y:2012:i:2:d:10.1007_s10957-012-0042-5 is not listed on IDEAS
    12. Fabbri, Giorgio & Gozzi, Fausto, 2006. "Vintage Capital in the AK growth model: a Dynamic Programming approach. Extended version," MPRA Paper 7334, University Library of Munich, Germany.
    13. repec:spr:compst:v:78:y:2013:i:2:p:259-284 is not listed on IDEAS
    14. Fabbri, Giorgio & Iacopetta, Maurizio, 2007. "Dynamic Programming, Maximum Principle and Vintage Capital," MPRA Paper 5115, University Library of Munich, Germany.
    15. Herbert Dawid & Engelbert Dockner & Richard Hartl & Josef Haunschmied & Ulrike Leopold-Wildburger & Mikulas Luptacik & Alexander Mehlmann & Alexia Prskawetz & Marion Rauner & Gerhard Sorger & Gernot T, 2010. "Gustav Feichtinger celebrates his 70th birthday," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 18(4), pages 437-451, December.
    16. Silvia Faggian & Luca Grosset, 2013. "Optimal advertising strategies with age-structured goodwill," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 78(2), pages 259-284, October.
    17. Caulkins, Jonathan P. & Feichtinger, Gustav & Grass, Dieter & Hartl, Richard F. & Kort, Peter M. & Seidl, Andrea, 2015. "Skiba points in free end-time problems," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 404-419.
    18. Hritonenko, Natali & Yatsenko, Yuri, 2010. "Technological innovations, economic renovation, and anticipation effects," Journal of Mathematical Economics, Elsevier, vol. 46(6), pages 1064-1078, November.
    19. Ralph Winkler, 2008. "Optimal compliance with emission constraints: dynamic characteristics and the choice of technique," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 39(4), pages 411-432, April.
    20. repec:spr:joptap:v:167:y:2015:i:1:d:10.1007_s10957-014-0680-x is not listed on IDEAS
    21. Mauro Bambi & Cristina Di Girolami & Salvatore Federico & Fausto Gozzi, 2014. "On the Consequences of Generically Distributed Investments on Flexible Projects in an Endogenous Growth Model," Discussion Papers 14/15, Department of Economics, University of York.
    22. Natali Hritonenko & Yuri Yatsenko, 2010. "Age-Structured PDEs in Economics, Ecology, and Demography: Optimal Control and Sustainability," Mathematical Population Studies, Taylor & Francis Journals, vol. 17(4), pages 191-214.
    23. Cagri Saglam & Vladimir M. Veliov, 2008. "Role of Endogenous Vintage Specific Depreciation in the Optimal Behavior of Firms," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(3), pages 381-410.
    24. Fabbri, Giorgio & Faggian, Silvia & Gozzi, Fausto, 2006. "On the Dynamic Programming approach to economic models governed by DDE's," MPRA Paper 2825, University Library of Munich, Germany.
    25. Silvia Faggian, 2008. "Equilibrium Points for Optimal Investment with Vintage Capital," Working Papers 182, Department of Applied Mathematics, Università Ca' Foscari Venezia.

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