Vintage capital growth models have been at the heart of growth theory in the 60s. This research line collapsed in the late 60s with the so-called embodiment controversy and the technical sophisitication of the vintage models. This paper analyzes the astonishing revival of this literature in the 90s. In particular, it outlines three methodological breakthroughs explaining this resurgence: a grow...

This paper analyses the general equilibrium implications of reforming pay-as-you-go pension systems in an economy with heterogeneous agents, human capital investment and capital-skill complementarity. It shows that increasing funding delivers in the long run higher physical and human capital and therefore higher output, but also higher wage and income inequality. The latter affects preferences ...

This paper assesses the impact of investmentand education-specific technical change on occupational transition and the skill premium in a model with human capital. In this framework, human capital augments labour productivity and also facilitates the transition to skilled employment. In line with empirical evidence, this setup predicts that an increase in the productivity of physical capital (i...

This work is based on a study of capital goods suppliers to the power generation and distribution, materials handling, and offshore industries. Business processes are project-based and interdependent. They include sales, marketing, tendering, engineering, manufacturing, procurement, assembly, and commissioning. A model is presented which groups these processes into three categories: nonphysical...

The recent changes in the U.S. wage structure are often linked to the new wave of capital-embodied information technologies. The existing literature has emphasized either the accelerated pace or the skill-bias of embodied technical progress as the driving force behind the rise in wage inequality. A key, neglected, aspect is the \general purpose" nature of the new information technologies. This ...

This paper adopts a holistic approach to explain why social capital matters for effective implementation, widespread uptake, greater social inclusion, and the sustainability of CI initiatives. It describes a theoretical framework drawn from diffusion of innovation, community development and social capital theories. The framework emphasises the interplay between physical infrastructure (includin...

Nowadays, chronic non-communicable diseases have become a significant social problem of healthcare which threatens human health along with their rapid progress of morbidity and mortality. How to develop potential, intangible resources to compensate for insufficient physical resources is urgent. By analyzing literature reporting the association between social capital and chronic non-communicable...

the appearance of body, which is considered as people’s physical capital, is influenced by cultural position of individuals. people have different attitude towards their body and appearance depending on their cultural capital. in addition, in today’s world visible characteristics and features of individuals are ever more important than they used to be in the past. thus, as appropriate and desir...