We provide a simple theory of in.ation inertia in a staggered price setting framework a la Calvo (1983). Contrary to Calvo.s formulation, the frequency of price changes is allowed to vary according to an evolutionary criterion. Inertia is the direct result of gradual adjustment in this frequency...

This paper analyzes the equilibrium dynamics of and optimal growth model that incorporates endogenous depreciation, variable capital utilization, and expenditures on the maintenance of physical capital. Maintenance acts as a substitute for investment, since it reduces the depreciation of...

This paper examines how a scrappage subsidy affects the lifetime of durable goods when secondhand markets are present. To this end, we propose a vintage model to analyze the replacement decision in an economy in which high and low income agents trade on a durable good. Thus, the existence of a...

This article deals with cooperation issues in international pollution problems in a two di- mensional dynamic framework implied by the accumulation of the pollutant and of the capital goods. Assuming that countries do reevaluate at each period the advantages to cooperate or not given the current...

[eng] This paper focuses on the impact of technical progress on growth in the framework of a vintage capital model. This structure of capital allows for creative destruction, in the sense that the obsolescence of capital results from embodied technical progress in new equipments. The rate of...

Dans un modèle de croissance endogène reposant sur le concept de soutenabilité forte et intégrant une ressource de matière (naturellement recyclable) dont la productivité marginale est bornée, cet article reconsidère la "conjecture de Ricardo", à savoir l'éventualité d'une hausse...

Cet article analyse l'influence de variables telles que le taux de progrès technique ou le taux de préférence intertemporel sur la durée de vie du capital. L'analyse est réalisée au moyen d'un modèle de croissance avec technologie du type putty-clay, et où le progrès technique résulte...