Anticipation effects of technological progress on capital accumulation: a vintage capital approach
نویسندگان
چکیده
منابع مشابه
Anticipation effects of technological progress on capital accumulation: a vintage capital approach
Due to embodied technological progress new generations of capital goods are more productive. Therefore, in order to study the effects of technological progress, a model must be analyzed in which different generations of capital goods can be distinguished. We determine in what way the firm adjusts current investments to predictions of technological progress. In the presence of market power we sh...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2006
ISSN: 0022-0531
DOI: 10.1016/j.jet.2004.10.001