Endogenous Growth, Capital Utilization and Depreciation
نویسندگان
چکیده
منابع مشابه
Statutory Retirement Age and Endogenous Human Capital Depreciation
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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Previous studies have estimated the "human capital depreciation" of women re-entering the work force after voluntary, lengthy interruptions. Those studies have found reduced real wages and furthermore the decrease is positively related to the length of the interruption. Upon re-entry, however, real wages grow rapidly as human capital is restored. This paper develops a model of the wage historie...
متن کاملConsumption externality and indeterminacy under increasing returns to scale and endogenous capital depreciation
Article history: Accepted 17 January 2014 Available online 15 February 2014 JEL classification: C62 E21 E22
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We consider a discrete-time two-sector CES economy with sector specific external effects and partial depreciation of capital. We show that the occurrence of local indeterminacy of equilibria depends on an interplay between factor substitutability and capital depreciation. When the elasticity of substitution is less than one, local indeterminacy may occur with low depreciation of capital. When t...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.616021