RT Report
T1 Vintage capital and the dynamics of the AK model
A1 Boucekkine, Raouf
A1 Licandro, Omar
A1 Puch González, Luis Antonio
A1 Rio, Fernando del
AB 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 between investment and growth rates time series. To characterize the optimal solutions of the model we developanalytical and numerical methods that should be of interest for the general resolution of endogenous growth models with vintage capital.
PB Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
YR 2003
FD 2003
LK https://hdl.handle.net/20.500.14352/56601
UL https://hdl.handle.net/20.500.14352/56601
LA eng
DS Docta Complutense
RD 6 abr 2025