Growth with Unused Capacity and Endogenous Depreciation
نویسندگان
چکیده
منابع مشابه
Geography, Depreciation, and Growth
Any visit to the seashore will confirm that it is more difficult to build a large sandcastle if one locates the project too near the lapping waves of the ocean. The sandcastle may grow well initially, but eventually a rouge wave washes out some portion of the progress. It may be possible for the sandcastle to grow on net, so long as investment in building outpaces losses to the waves, but it mu...
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As societies age in most industrialized countries, reforms of the pension systems have become a central issue on the political agenda. A widely discussed proposition is to extend working life. An important implicit presumption of this proposition is that demand for older workers will continue until they reach the higher statutory retirement age. However, in most OECD countries the effective ret...
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When we allow capital depreciation to be endogenous, the acceleration of investment-specific technological progress can distort the measurement of the aggregate capital stock. Our quantitative exercise shows that this effect may cause a substantial bias in the measurement of total factor productivity and can account for a large portion of the observed productivity slowdown since the 1970s. 2006...
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Distributed systems frequently have large numbers of idle computers and workstations. If we could make use of these, then considerable computing power could be harnessed at low cost. We analyze such systems using Brownian motion with drift to model the execution of a program distributed over the idle computers in a network of idle and busy processors, determining how the use of these “transient...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2427910