We highlight the salient characteristics and implications of the seminal contributions in the field of vintage capital growth theory (proposed entry for the new Palgrave dictionary of economics, 2nd edition)

In this paper, we study a vintage capital model under a general equilibrium setting. In this model firms can invest not only on a new vintage capital goods, but also on existing ones. We show that the capital accumulation is a single hum-shape function, featuring slow technology diffusion.

We study technology adoption in an optimal growth model with embodied technical change. The economy consists of the final good sector, the capital sector, and the technology sector whose role is the imitation of exogenous innovations. Labor resources are scarce. They are freely allocated to the...

This paper investigates the standard economic paradigm as to the possibility for the agents to become revolutionaries, i.e., to develop the desire and effective action to overturn the prevailing social order. We take our cue from Amartya Sen’s remark that the Second Fundamental Theorem of...

Les Pays en transition ont considérablement réduit les émissions de CO2 entre 1995 et 2003. Cette performance est-elle due à l’application d’une politique volontariste de la part des gouvernements, ou bien est-elle un simple effet collatéral de la transformation industrielle majeure...