Download or read book Vintage Capital in the AK Growth Model written by Giorgio Fabbri and published by . This book was released on 2008 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper deals with an endogenous growth model with vintage capital and, more precisely, with the AK model proposed in [18]. In endogenous growth models the introduction of vintage capital allows to explain some growth facts but strongly increases the mathematical diamp;fficulties. So far, in this approach, the model is studied by the Maximum Principle; here we develop the Dynamic Programming approach to the same problem by obtaining sharper results and we provide more insight about the economic implications of the model. We explicitly amp;find the value function, the closed loop formula that relates capital and investment, the optimal consumption paths and the long run equilibrium. The short run amp;fluctuations of capital and investment andthe relations with the standard AK model are analyzed. Finally the applicability to other models s also discussed.
Download or read book Solving Optimal Growth Models with Vintage Capital the Dynamic Programming Approach written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper deals with an endogenous growth model with vintage capital and, more precisely, with the AK model proposed in [R. Boucekkine, O. Licandro, L.A. Puch, F. del Rio, Vintage capital and the dynamics of the AK model, J. Econ. Theory 120 (1) (2005) 39-72]. In endogenous growth models the introduction of vintage capital allows to explain some growth facts but strongly increases the mathematical difficulties. So far, in this approach, the model is studied by the Maximum Principle; here we develop the Dynamic Programming approach to the same problem by obtaining sharper results and we provide more insight about the economic implications of the model. We explicitly find the value function, the closed loop formula that relates capital and investment, the optimal consumption paths and the long run equilibrium. The short run fluctuations of capital and investment and the relations with the standard AK model are analyzed. Finally the applicability to other models is also discussed.
Download or read book Putty putty Two Sector Vintage Capital Growth Models written by Brett D. Berger and published by . This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Vintage Capital AK Dynamics written by Raouf Boucekkine and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Vintage Capital Model of Investment and Growth written by Jess J. Benhabib and published by . This book was released on 1989 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Convergence in Neoclassical Vintage Capital Growth Models written by Brett D. Berger and published by . This book was released on 2001 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Comparative Analysis of Vintage and Non vintage Capital Growth Models written by Brett D. Berger and published by . This book was released on 2001 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Vintage Capital Models of Growth and Fluctuations written by Pham Chi Thanh and published by . This book was released on 1967 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Vintage Capital Investment and Growth written by Jess Benhabib and published by . This book was released on 1990 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Vintage Capital Growth Theory written by Raouf Boucekkine and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Price of Capital in the Ak Model written by Maurizio Iacopetta and published by . This book was released on 2006 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The AK model predicts that the growth rate of income and the investment rate should move in lockstep. Jones (1995) rejected such an empirical regularity, but under the implicit premise that the price of capital is constant.I propose a parsimonious methodology to adjust the investment rate for the variations in the price of capital and use such a methodology to test the AK model using data on fifty countries during the period 1950-2000.Contrary to Jones, I fail to reject the prediction of the model in the majority of the cases, but the frequency of rejections is only marginally affected by the variations in the price of capital.
Download or read book Vintage Capital and the Theory of the Firm written by Hugh Robert Wills and published by . This book was released on 1974 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Endogenous Versus Exogenously Driven Fluctuations in Vintage Capital Models written by Raouf Bouccekkine and published by . This book was released on 1998 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Modelling of R D and Innovation Policies written by Ufuk Akcigit and published by Palgrave Macmillan. This book was released on 2021-12-03 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book encompasses a collection of in-depth analyses showcasing the challenges and ways forward for macroeconomic modelling of R&D and innovation policies. Based upon the proceedings of the EC-DG JRC-IEA workshop held in Brussels in 2017, it presents cutting-edge contributions from a number of leading economists in the field. It provides a comprehensive overview of the current academic and policy challenges surrounding R&D as well as of the state-of-the-art modelling techniques. The book brings to the forefront outstanding issues related to the assessment of the macroeconomic impact of R&D policies and its modelling. It speaks to the rising importance of R&D and innovation policy, and the proliferation of macroeconomic models featuring endogenous technological change. The contents of this book will be of interest to both academic and policy audiences working in the fields of R&D and innovation.
Download or read book Economic Growth second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
Download or read book Vintage Capital and Equality written by Boyan Jovanovic and published by . This book was released on 1998 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Replacement Echoes in the Vintage Capital Growth Model written by Raouf Boucekkine and published by . This book was released on 1996 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
