Boucekkine, Raouf; del Rio, Fernando; Licandro, Omar - Institut de Recherche Économique et Sociale (IRES), … - 2000
In this paper, we build up a general equilibrium model explicitly incorporating Schumpeterian growth à la Aghion and Howitt (1992) and a vintage capital structure in line with Solow (1960). In this set-up, we show that the investment rate is a fundamental determinant of the profitability of...