Models with Heterogeneous Capital

Natali Hritonenko and Yuri Yatsenko
Additional contact information
Natali Hritonenko: Prairie View A&M University

Chapter Chapter 4 in Mathematical Modeling in Economics, Ecology and the Environment, 2013, pp 79-103 from Springer

Abstract: Abstract This chapter explores economic growth models with heterogeneous capital and labor described by the integral or partial differential equations. Such models are imperative in explaining economic development under embodied technological change. Section 4.1 describes the well-known macroeconomic growth models with vintage capital of R. Solow and L. Johansen and analyzes links among them. Optimization vintage capital models at a firm level are portrayed in Sect. 4.2. Section 4.3 considers models with investment into different vintages of capital. The last section discusses two fundamental replacement problems of Operations Research: the serial replacement of a single machine and the parallel replacement of several machines.

Keywords: Production Function; Technological Change; Volterra Integral Equation; Replacement Problem; Solow Model (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:spochp:978-1-4614-9311-2_4

Ordering information: This item can be ordered from
http://www.springer.com/9781461493112

DOI: 10.1007/978-1-4614-9311-2_4

Access Statistics for this chapter

More chapters in Springer Optimization and Its Applications from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().