We show that the “abandonment” model emphasized by researchers in capital budgeting and the “steady state” replacement model emphasized by economic theorists constitute sub-cases of a more general class of transitory replacement models in which the horizon of reinvestments is determined...

This paper derives a model of irregular or unplanned maintenance and repair outlays from an analytical framework based on rational economic behavior in which maintenance, utilization and service life decisions are appropriately integrated and estimates it with the help of data from 433...

This paper investigates whether the monetary policy and the market structure have anything to do with the declining share of labor in the U.S in recent decades. For this purpose: (a) a dynamic general equilibrium model is constructed and used in conjunction with data over the 2000-2014 period to...

The economic constitutions of Germany and Greece have resulted in the postwar period in two economies that are based on two vastly different philosophies. Germany has built a highly competitive, outward looking economy based essentially on the principles of the so-called “Social Market...

Credible analyses and evidence submitted by experts from universities, international organizations and independent think tanks show that the trends which led to the 2008 worldwide financial crisis remain intact. As a result, central for responsible leaderships should be the concern how to...

This paper derives a model of maintenance expenditures from an analytical framework in which maintenance, utilization and service life are appropriately integrated and estimates it with the help of automobile data from Greece. On the theoretical plain it is shown that the model allows...

We draw on three strands of literature dealing with utilization, maintenance, and scrapping in order to analyze the properties of the respective policies and their interac-tions. We do so by focusing on the last period of the received multi-period service life model and extending it in three...