Download or read book Optimal Growth Under Endogenous Depreciation Capital Utilization and Maintenance Costs written by Omar Licandro and published by . This book was released on 2000 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimal Growth Under Endogeous Depreciation Capital Utilization and Maintenance Costs written by Omar Licandro and published by . This book was released on 2000 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimal Growth Under Endogeous Depreciation Captial Utilization and Maintenance Costs written by Omar Licandro and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Endogenous Growth Capital Utilization and Depreciation written by J. Aznar-Marquez and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Variable Capital Utilization in a General Equilibrium supply Side Model written by Leonardo Auernheimer and published by . This book was released on 1997 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital Utilization Economic Growth and Convergence written by Santanu Chatterjee and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the implications of capital utilization for the dynamics of growth and convergence. Optimal decisions by economic agents regarding the utilization of capital lead to empirically plausible speeds of convergence in one-sector models of economic growth, thereby providing a simpler alternative to the adjustment costs and multiple capital goods frameworks. The sensitivity of depreciation to capital utilization leads to less than full utilization of capital by the economic agent, a result consistent with empirical facts. The relationship between the rate of depreciation and capital utilization, embodied in the variable marginal benefits and costs of capital accumulation along the transition path, plays a crucial role in slowing down the speed of convergence to the steady state. By assuming a constant depreciation rate and full capital utilization, standard growth models may be significantly overstating the magnitude of the steady-state equilibrium. Finally, differences across countries in the extent to which agents internalize the capital utilization decision along the transition path may lead to differences in the speed of adjustment tothe steady-state equilibrium, even for countries that have similar initial and terminal conditions.
Download or read book Endogenous Growth Depreciation Rates and Technological Progress written by Fernando Luis Lugo-Camacho and published by . This book was released on 2001 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Indeterminacy Revisited written by Mark Weder and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a one-sector optimal growth model with variable capacity services and production externalities. It uses a new formulation of the endogenous capital utilization rate in which utilization costs appear in the form of variable maintenance expenses. I find that indeterminacy arises at approximate constant returns to scale. This result challenges the viewpoint that indeterminacy is empirically implausible.
Download or read book Growth with Unused Capacity and Endogenous Capital Depreciation written by Fabrizio Patriarca and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper contributes to the debate on growth and distribution in a non-mainstream perspective. It looks at the role that capacity utilization plays in the process of growth under the hypothesis that the rate of capital depreciation is a function of the degree of capacity utilization. Our hypothesis implies results partly different from those obtained by other models in which capacity utilization plays a key role. In particular, a varying rate of depreciation affects the conditions under which distributional changes in favor of wages affect the rate of growth positively.
Download or read book Growth with Unused Capacity and Endogenous Depreciation written by Patriarca Fabrizio and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimal Taxation of Human and Physical Capital in Endogenous Growth Models written by Nouriel Roubini and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Technological Progress Obsolescence and Depreciation written by Raouf Boucekkine and published by . This book was released on 2006 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Transitional Dynamics in Two sector Models of Endogenous Growth written by Casey B. Mulligan and published by . This book was released on 1992 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: The steady state and transitional dynamics of two-sector models of endogenous growth are analyzed in this paper. We describe necessary conditions for endogenous growth. The conditions allow us to reduce the dynamics of the solution to a system with one state-like and two control-like variables. We analyze the determinants of the long run growth rate. We use the Time-Elimination Method to analyze the transitional dynamics of the models. We find that there are transitions in real time if the point-in-time production possibility frontier is strictly concave, which occurs, for example, if the two production functions are different or if there are decreasing point-in-time returns in any of the sectors. We also show that if the models have a transition in real time, the models are globally saddle path stable. We find that the wealth or consumption smoothing effect tends to dominate the substitution or real wage effect so that the transition from relatively low levels of physical capital is carried over through high work effort rather than high savings. We develop some empirical implications. We show that the models predict conditional convergence in that, in a cross section, the growth rate is predicted to be negatively related to initial income but only after some measure of human capital is held constant. Thus, the models are consistent with existing empirical cross country evidence.
Download or read book Endogenous Growth with Capital in R D Production Functions written by Fernando Sánchez Losada and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we claim that capital is as important in the production of ideas as in the production of final goods. Hence, we introduce capital in the production of knowledge and discuss the associated problems arising from the public good nature of knowledge. We show that although population growth can affect economic growth, it is not necessary for growth to arise. We derive both the social planner and the decentralized economy growth rates and show the optimal subsidy that decentralizes it. We also show numerically that the effects of population growth on the market growth rate, the optimal growth rate and the optimal subsidy are small. Besides, we find that physical capital is more important for the production of knowledge than for the production of goods.
Download or read book Economic Dynamics written by Chester W. Hurlington and published by . This book was released on 2009 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic dynamic theory includes dynamic games, dynamic general equilibrium theory, and empirical studies. The following topics are subsumed: business cycles, asset pricing, search models, intergenerational issues, fertility, financial systems. This book presents the latest research from around the globe.
Download or read book Proceedings written by and published by . This book was released on 1995 with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
