Giorgio Fabbri

Learn More
This paper deals with an endogenous growth model with vintage capital and, more precisely, with the AK model proposed in [R. Boucekkine, O. Licandro, L.A. Puch, F. del Rio, Vintage capital and the dynamics of the AK model, J. Econ. Theory 120 (1) (2005) 39–72]. In endogenous growth models the introduction of vintage capital allows to explain some growth(More)
Parfit’s Repugnant Conclusion stipulates that under total utilitarianism, it might be optimal to choose increasing population size while consumption per capita goes to zero. We evaluate this claim within a canonical AK model with endogenous fertility and a reduced form relationship between demographic growth and economic growth. While in the traditional(More)
This paper aims at clarifying the conditions under which nancial globalization originates welfare gains in a simple endogenous growth setting. We focus on the capital-deepening e ect of nancial globalization in an open-economy AK model and we show that constrained borrowing triggers substantial welfare gains, even at small levels of international nancial(More)
A benchmark AK optimal growth model with maintenance expenditures and endogenous utilization of capital is considered within an explicit vintage capital framework. Scrapping is endogenous, and the model allows for a clean distinction between age and usage dependent capital depreciation and obsolescence. It is also shown that in this set-up past investment(More)
We study the optimal dynamics of an AK economy where population is uniformly distributed along the unit circle. Locations only differ in initial capital endowments. Despite constant returns to capital, we prove that transition dynamics will set in. In particular, we prove that the spatio-temporal dynamics, induced by the willingness of the planner to give(More)
We study several aspects of the dynamic programming approach to optimal control of abstract evolution equations, including a class of semilinear partial differential equations. We introduce and prove a verification theorem which provides a sufficient condition for optimality. Moreover we prove suband superoptimality principles of dynamic programming and(More)
An advanced current measure probe is described for biological applications. Singular points on the body skin emit a semi-constant current that could be potentially useful for a medical diagnosis of the body organs to which any singular point is connected. In order to achieve an accurate and reliable analysis of the emitted current, all the error sources(More)