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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Year of publication:	1996-06-07
Authors:	Bardhan, Pranab ; Priale, Rodrigo
Institutions:	Institute of Business and Economic Research (IBER), Walter A. Haas School of Business
Subject:	economic obsolescence \| modernization of capital \| endogenous productivity growth \| international economics

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Extent:	application/pdf
Series:	Center for International and Development Economics Research, Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Center for International and Development Economics Research
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010538652