Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of … addressed through government contacting and regulation without resort to government ownership. The case for private provision …

reallocation of capital across sectors is costly. The two-sector model leads to a richer array of possible responses of aggregate …

by machines or software. Few have discussed the implications of the reverse: firms' ability to replace capital with … a simple real options model where permissive labor regulations allow firms to take advantage of capital …-labor substitutability by replacing 'rigid' capital with 'flexible' labor. The model highlights institutional, technological, and …

Capital reallocation is procyclical, despite measured productive reallocative opportunities being acyclical, or even … countercyclical. This paper reviews the advances in the literature studying the causes and consequences of capital reallocation (or … lack thereof). We provide a comprehensive set of capital reallocation stylized facts for the US, and an illustrative model …

We study the dynamic taxation of capital and labor in the Ramsey model under the assumption that taxes and public good … viewpoint of the citizens involves long-run capital taxation …

The paper revisits Harper, Berndt and Wood (1989) and calculates Canadian reproducible capital services aggregates … under alternative assumptions about the form of depreciation, the opportunity cost of capital and the treatment of capital … that there is a known time profile of maintenance expenditures that can be associated with each asset and the optimal time …

This paper studies the nature of capital adjustment at the plant-level. We use an indirect inference procedure to … estimate the structural parameters of a rich specification of capital adjustment costs. In effect, the parameters are optimally …

given the latest vintage machine all of the time. Inequality thus originates in the limited capacity of the capital goods …If machines are indivisible, a vintage capital model must give rise to income inequality. If new machines are always … without frictions, a perfect positive assignment between the quality of labor and of capital can be maintained by a process of …

The importance of financial markets and international capital flows have increased greatly since the 1990s. How does …