Technological-knowledge dynamics in lab-equipment models of quality ladders

Pedro Gil and Oscar Afonso

Applied Economics Letters, 2011, vol. 18, issue 4, 333-336

Abstract: The Perpetual Inventory Model (PIM) assumes that, in each period, an arbitrary constant fraction of technological-knowledge stock is lost. We give a theoretical background to the PIM by showing that the technological-knowledge accumulation follows a dynamic process with an endogenous depreciation rate, which remains stable in steady state.

Date: 2011
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Working Paper: Technological-Knowledge Dynamics in Lab-Equipment Models of Quality Ladders (2008)
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DOI: 10.1080/13504851003670635

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