Vintage Capital in Matching Models with Credible Bargaining

  • Published 2009

Abstract

A Hornstein, Krusell, and Violante (2007) vintage capital matching model with two sources of business cycles fluctuations, namely in labor productivity and in investmentspecific technical change (ISTC), is analyzed. The defining feature is that once a firm purchases the capital, there is no possibility to adjust the capital content of a machine vintage in… (More)

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