Vintage Capital, Optimal Investment and Technology Adoption

Benteng Zou

No 2003027, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: In this paper, we study a vintage capital model under a general equilibrium setting. In this model firms can invest not only on a new vintage capital goods, but also on existing ones. We show that the capital accumulation is a single hum-shape function, featuring slow technology diffusion.

Keywords: Embodiment; Technology adoption; Vintage capital (search for similar items in EconPapers)
JEL-codes: E22 E32 O40 (search for similar items in EconPapers)
Pages: 25
Date: 2003-12-01
New Economics Papers: this item is included in nep-dge, nep-ino, nep-mac and nep-tid
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2003027

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