A vintage model with endogenous growth and human capital

Jess Benhabib

doi:10.1111/ijet.12201

A vintage model with endogenous growth and human capital

Jess Benhabib

Research output: Contribution to journal › Article › peer-review

Abstract

We develop an endogenous growth model with vintages of physical capital where human capital is endogenously produced. Under some simplifying assumptions, we can solve the model analytically and study its dynamics. We provide conditions under which a balanced growth path, in the ratio of capital to human capital, exists and is stable, with the transition dynamics exhibiting oscillatory echo effects associated with vintages.

Original language	English (US)
Pages (from-to)	27-35
Number of pages	9
Journal	International Journal of Economic Theory
Volume	15
Issue number	1
DOIs	https://doi.org/10.1111/ijet.12201
State	Published - Mar 2019

Keywords

endogenous growth
vintage capital

ASJC Scopus subject areas

Economics and Econometrics

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10.1111/ijet.12201

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A vintage model with endogenous growth and human capital

Abstract

Keywords

ASJC Scopus subject areas

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