Boucekkine, Raouf; del Rio, Fernando; Licandro, Omar - Institut de Recherche Économique et Sociale (IRES), … - 2000
Howitt (1992) and a vintage capital structure in line with Solow (1960). In this set-up, we show that the investment rate is … resources are devoted to R&D, the faster the economy grows, the lower is the average age of capital and the higher is the rate … of decline of the relative price of capital. Subsidizing both capital and research stimulates growth. The embodiment of …