BOUCEKKINE, Raouf; DEL RIO, Fernando; MARTINEZ, Blanca - Center for Operations Research and Econometrics (CORE), … - 2006
We construct a vintage capital model `a la Whelan (2002) with both exogenous embodied and disembodied technical progress, and variable utilization of each vintage. The lifetime of capital goods is endogenous and it relies on the associated maintenance costs. We study the properties of the...