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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- De Long, J Bradford & Summers, Lawrence H, 1991.
"Equipment Investment and Economic Growth,"
The Quarterly Journal of Economics,
MIT Press, vol. 106(2), pages 445-502, May.
- J. Bradford De Long & Lawrence H. Summers, . "Equipment Investment and Economic Growth," J. Bradford De Long's Working Papers _122, University of California at Berkeley, Economics Department.
- J. Bradford De Long & Lawrence H. Summers, 1990. "Equipment Investment and Economic Growth," NBER Working Papers 3515, National Bureau of Economic Research, Inc.
- Gene M. Grossman & Elhanan Helpman, 1989.
"Quality Ladders in the Theory of Growth,"
NBER Working Papers
3099, National Bureau of Economic Research, Inc.
- Bardhan, Pranab & Kletzer, Ken, 1984. "Dynamic effects of protection on productivity," Journal of International Economics, Elsevier, vol. 16(1-2), pages 45-57, February.
- Wolff, Edward N, 1991. "Capital Formation and Productivity Convergence over the Long Term," American Economic Review, American Economic Association, vol. 81(3), pages 565-79, June.
- Raouf Boucekkine & Marc Germain & Omar Licandro, .
"Replacement echoes in the vintage capital growth model,"
- 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.
- 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).
- P. K. Bardhan, 1968.
"Equilibrium Growth in a Model with Economic Obsolescence of Machines,"
17, Massachusetts Institute of Technology (MIT), Department of Economics.
- Bardhan, Pranab, 1969. "Equilibrium Growth in a Model with Economic Obsolescence of Machines," The Quarterly Journal of Economics, MIT Press, vol. 83(2), pages 312-23, May.
- Ethier, Wilfred J, 1982. "National and International Returns to Scale in the Modern Theory of International Trade," American Economic Review, American Economic Association, vol. 72(3), pages 389-405, June.
- Williamson, Jeffrey G, 1971. "Optimal Replacement of Capital Goods: The Early New England and British Textile Firm," Journal of Political Economy, University of Chicago Press, vol. 79(6), pages 1320-34, Nov.-Dec..
- Segerstrom, Paul S & Anant, T C A & Dinopoulos, Elias, 1990. "A Schumpeterian Model of the Product Life Cycle," American Economic Review, American Economic Association, vol. 80(5), pages 1077-91, December.
- Young, Alwyn, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 641-80, August.
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