Vintage capital and the dynamics of the AK model

Raouf Boucekkine (raouf.boucekkine@univ-amu.fr), Fernando del Río and Omar Licandro (licandro.omar@gmail.com)

CEPREMAP Working Papers (Couverture Orange) from CEPREMAP

Abstract: 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 additionnally 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 convergence properties and the dynamics of the model we develope analytical and numerical methods that should be of interest for the general resolution of endogenous growth models with vintage capital.

JEL-codes: E22 E32 O40 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2000
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http://www.cepremap.fr/depot/couv_orange/co0003.pdf (application/pdf)

Related works:
Journal Article: Vintage capital and the dynamics of the AK model (2005)
Working Paper: Vintage capital and the dynamics of the AK model (2005)
Working Paper: Vintage capital and the dynamics of the AK model (2003)
Working Paper: Vintage Capital And the Dynamics of the AK Model (2002)
Working Paper: Vintage Capital and the Dynamics of the AK Model (2000)
Working Paper: Vintage Capital and the Dynamics of the AK Model (1999)
Working Paper: Vintage capital and the dynamics of the AK model
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Persistent link: https://EconPapers.repec.org/RePEc:cpm:cepmap:0003

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