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Vintage Human Capital, Demographic Trends, and Endogenous Growth
TLDR
We study how economic growth is affected by demographics in an overlapping generations model with a realistic survival law. Expand
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Replacement Echoes in the Vintage Capital Growth Model
This paper is concerned with a non-standard source of fluctuations, called echoes effects, i.e. the ability of an economy to reproduce its own past behaviour. In the sixties, growth theoristsExpand
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Life Expectancy and Endogenous Growth
We consider an overlapping generations model with uncertain lifetime and endogenous growth. Individuals have to choose the length of time devoted to schooling before starting to work. We show that itExpand
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Embodied technological change learning-by-doing and the productivity slowdown
The productivity slowdown faced by the US economy since the first oil shock has been associated with a rise in the decline rate of the relative price of equipment and a reduction in the rate ofExpand
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Vintage capital and the dynamics of the AK model
TLDR
This paper focuses on the equilibrium dynamics of an AK-type endogenous growth model with vintage capital and non-linear utility. Expand
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Creative Destruction, Investment Volatility, and the Average Age of Capital
In this article, a new numerical procedure is used to compute the equilibrium of a vintage capital growth model with nonlinear utility, where the scrapping time is nonconstant. We show thatExpand
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Early Mortality Declines at the Dawn of Modern Growth
We explore the hypothesis that demographic changes started in the seventeenth and eighteenth centuries are the root of the acceleration in growth rates at the dawn of the modern age. During thisExpand
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Endogenous vs exogenously driven fluctuations in vintage capital models
In this paper, we present a simple vintage capital growth model in which both exogenous and endogenous fluctuations sources are present. Indeed, it can be seen as a particular case of Caballero andExpand
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The Effects of Replacement Schemes on Car Sales: The Spanish Case
This paper studies a model of car replacement designed to evaluate policies addressed to influence replacement decisions. An aggregate hazard function is computed from optimal replacement rules ofExpand
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