Technology adoption and accumulation in a vintage-capital model (Q698232)
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scientific article; zbMATH DE number 1802486
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| English | Technology adoption and accumulation in a vintage-capital model |
scientific article; zbMATH DE number 1802486 |
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Technology adoption and accumulation in a vintage-capital model (English)
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18 September 2002
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The authors consider an infinite horizon growth model with vintage capital, which induces an infinite dimensional space of technologies, each of which is capital specific. The paper shows the existence of an optimal growth path, when the production exhibits constant returns to scale and technological progress is exogenous. A first-order characterization of the optimal path is also provided.
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vintage-capital
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growth diffusive
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technological progress
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0.8604431748390198
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0.8595452904701233
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0.8574311137199402
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0.8033440113067627
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0.8013914227485657
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