replacement ending with scrapping. The corresponding vintage capital models are formulated in the dynamic optimization framework …This paper analyzes and compares two alternative policies of determining the service life and replacement demand for … vintage equipment under embodied technological change. The policies are the infinite-horizon replacement and the transitory …

assets. More specifically, the analysis shows that: replacement under uncertainty leads to optimal lifetimes of assets that … elasticity of demand, , scrapping under uncertainty yields life-times that may be shorter or longer than those determined by … replacement under certainty; and, irrespective of the values of these parameters, the optimal lifetime of assets from a pol-icy of …

proportionality, which asserts that depreciation is proportional to the outstanding capital stock. All available evidence shows that … forces like utilization, maintenance and repair, the prices of new capital goods, etc., and b) while the approximation of the … capital and the useful lives of its components. For this reason, it is concluded that, the sooner this theorem is replaced by …

It is ascertained that the theorem of proportionality, which maintains that replacement investment is a constant … proportion of the outstanding capital stock, has several fundamental shortcomings. It derives from a model founded on assumptions … organization and other neighboring fields to economics that treat the durability of capital goods as a choice variable. It ignores …

determination of two components of worker flows: worker replacement and job creation. We show that a negative correlation between … job creation and replacement across firms emerges from such a framework. An empirical model is specified and its …

, including ‘It’s All About Oil’ (2003), ‘Clash of Civilization or Capital Accumulation?’ (2004), ‘Beyond Neoliberalism’ (2004 …) and ‘Dominant Capital and the New Wars’ (2004). In their paper, the Retort group credits us for having coined the term …

cambiado radicalmente. Este país es quizá el mejor ejemplo de penetración del capital en el campo latinoamericano, con efectos …