کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
957799 928576 2006 22 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Anticipation effects of technological progress on capital accumulation: a vintage capital approach
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Anticipation effects of technological progress on capital accumulation: a vintage capital approach
چکیده انگلیسی

Due to embodied technological progress new generations of capital goods are more productive. Therefore, in order to study the effects of technological progress, a model must be analyzed in which different generations of capital goods can be distinguished. We determine in what way the firm adjusts current investments to predictions of technological progress. In the presence of market power we show that a negative anticipation effect occurs, i.e. current investments in recent generations of capital goods decline when faster technological progress will take place in the future, because then it becomes more attractive to wait for new generations of capital goods. In case that only investments in new machines are possible, actually a whole wave of anticipation phases arises.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 126, Issue 1, January 2006, Pages 143–164
نویسندگان
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