cannot obtain consistent aggregates of capital stock and replacement investment. … voluminous literature that has developed ignores the marked difference be-tween replacement and scrapping and glosses over their … result when useful life, replacement and scrapping are placed in the center of the analysis. It does so by considering an …

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 …

used durables, etc., b) switching among replacement policies produces bursts or slumps in replacement investment much like … determine the service life, and hence the replacement demand for durables, in the short run and in the long run. For this … purpose the received multiperiod economic replacement model is extended in the light of more recent theoretical developments …

Between investment volume, product and aggregate fixed capital exist the certain quantitative relations which results … same extent of capital needs a certain extent of investment to replace the loss of capital because of depreciation.<p> The … depreciation of capital, unsuitable structure of investment in previous years etc.). That means that the high rate of investment …

central Europe. The transport infrastructure represents a considerable economic capital stock with gross fixed assets of 778 … a substantial neglect of investment in the maintenance and quality assurance of the transport infrastructure. Against …-post comparison of replacement demand and replacement investments made from 2006 to 2011. The analysis shows that in the past there …

based on an ex-post comparison of replacement demand and replacement investment made from 2006 to 2011. The analysis shows … European location. The transport infrastructure represents a considerable economic capital stock with gross fixed assets of 778 … importance of this sector for the economy, there is a serious lack of investment in the maintenance and quality assurance of the …

This paper considers optimal investment behaviour when investment options evolve deterministically or stochastically … over time and investments are irreversible and indivisible. It extends the standard investment-under-uncertainty set …-up with a single investment option to the case of repeated options. Analytical solutions are derived for the deterministic …

This paper traces the idea of Capital from Adam Smith to modern times and shows how different conceptions of Capital … to a stock, approach to Capital is shown to be more conducive to a studies of business institutions and practices, and to …

on a case study of Ecuador - considers the distribution of savings, investment, capital resources and financial losses …ILO pub-WEP pub-PREALC pub. Working paper, model for disaggregated capital accounting within national accounting, based …