Vintage capital and the dynamics of the AK model

This paper analyzes the equilibrium dynamics of an AK-type endogenous growth model with vintage capital. The inclusion of vintage capital leads to oscillatory dynamics governed by replacement echoes, which additionally influence the intercept of the balanced growth path. These features, which are in...

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Detalles Bibliográficos
Autores: Boucekkine, Raouf, Licandro, Omar, Puch González, Luis Antonio, Rio, Fernando del
Tipo de recurso: informe técnico
Fecha de publicación:2000
País:España
Institución:Universidad Complutense de Madrid (UCM)
Repositorio:Docta Complutense
Idioma:inglés
OAI Identifier:oai:docta.ucm.es:20.500.14352/64230
Acceso en línea:https://hdl.handle.net/20.500.14352/64230
Access Level:acceso abierto
Palabra clave:Endogenous growth
Vintage capital
AK model
Difference-differential equations.
Econometría (Economía)
5302 Econometría
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repository_id_str
spelling Vintage capital and the dynamics of the AK modelBoucekkine, RaoufLicandro, OmarPuch González, Luis AntonioRio, Fernando delEndogenous growthVintage capitalAK modelDifference-differential equations.Econometría (Economía)5302 EconometríaThis paper analyzes the equilibrium dynamics of an AK-type endogenous growth model with vintage capital. The inclusion of vintage capital leads to oscillatory dynamics governed by replacement echoes, which additionally influence the intercept of the balanced growth path. These features, which are in sharp contrast to those from the standard AK model, can contribute to explaining the short-run deviations observed bctween investment and growth rates time series. To characterize the convergence properties and the dynamics of the model we develop analytical and numencaJ rnethods that should be of interest for the general resolution of endogenous growth models with vintage capital.Facultad de Ciencias Económicas y Empresariales. Instituto de Análisis Económico (ICAE)Universidad Complutense de Madrid20002000-01-0120002000-01-01technical reporthttp://purl.org/coar/resource_type/c_18ghinfo:eu-repo/semantics/reportapplication/pdfhttps://hdl.handle.net/20.500.14352/64230reponame:Docta Complutenseinstname:Universidad Complutense de Madrid (UCM)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Atribución-NoComercial-CompartirIgual 3.0 Españahttps://creativecommons.org/licenses/by-nc-sa/3.0/es/info:eu-repo/semantics/openAccessoai:docta.ucm.es:20.500.14352/642302026-06-02T12:44:21Z
dc.title.none.fl_str_mv Vintage capital and the dynamics of the AK model
title Vintage capital and the dynamics of the AK model
spellingShingle Vintage capital and the dynamics of the AK model
Boucekkine, Raouf
Endogenous growth
Vintage capital
AK model
Difference-differential equations.
Econometría (Economía)
5302 Econometría
title_short Vintage capital and the dynamics of the AK model
title_full Vintage capital and the dynamics of the AK model
title_fullStr Vintage capital and the dynamics of the AK model
title_full_unstemmed Vintage capital and the dynamics of the AK model
title_sort Vintage capital and the dynamics of the AK model
dc.creator.none.fl_str_mv Boucekkine, Raouf
Licandro, Omar
Puch González, Luis Antonio
Rio, Fernando del
author Boucekkine, Raouf
author_facet Boucekkine, Raouf
Licandro, Omar
Puch González, Luis Antonio
Rio, Fernando del
author_role author
author2 Licandro, Omar
Puch González, Luis Antonio
Rio, Fernando del
author2_role author
author
author
dc.contributor.none.fl_str_mv Universidad Complutense de Madrid
dc.subject.none.fl_str_mv Endogenous growth
Vintage capital
AK model
Difference-differential equations.
Econometría (Economía)
5302 Econometría
topic Endogenous growth
Vintage capital
AK model
Difference-differential equations.
Econometría (Economía)
5302 Econometría
description This paper analyzes the equilibrium dynamics of an AK-type endogenous growth model with vintage capital. The inclusion of vintage capital leads to oscillatory dynamics governed by replacement echoes, which additionally influence the intercept of the balanced growth path. These features, which are in sharp contrast to those from the standard AK model, can contribute to explaining the short-run deviations observed bctween investment and growth rates time series. To characterize the convergence properties and the dynamics of the model we develop analytical and numencaJ rnethods that should be of interest for the general resolution of endogenous growth models with vintage capital.
publishDate 2000
dc.date.none.fl_str_mv 2000
2000-01-01
2000
2000-01-01
dc.type.none.fl_str_mv technical report
http://purl.org/coar/resource_type/c_18gh
dc.type.openaire.fl_str_mv info:eu-repo/semantics/report
format report
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14352/64230
url https://hdl.handle.net/20.500.14352/64230
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-CompartirIgual 3.0 España
https://creativecommons.org/licenses/by-nc-sa/3.0/es/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-CompartirIgual 3.0 España
https://creativecommons.org/licenses/by-nc-sa/3.0/es/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Facultad de Ciencias Económicas y Empresariales. Instituto de Análisis Económico (ICAE)
publisher.none.fl_str_mv Facultad de Ciencias Económicas y Empresariales. Instituto de Análisis Económico (ICAE)
dc.source.none.fl_str_mv reponame:Docta Complutense
instname:Universidad Complutense de Madrid (UCM)
instname_str Universidad Complutense de Madrid (UCM)
reponame_str Docta Complutense
collection Docta Complutense
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.81155

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