A vintage model with endogenous growth and human capital

Jess Benhabib

    Research output: Contribution to journalArticle

    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 languageEnglish (US)
    JournalInternational Journal of Economic Theory
    DOIs
    StateAccepted/In press - Jan 1 2018

    Fingerprint

    Vintage models
    Endogenous growth
    Human capital
    Physical capital
    Endogenous growth model
    Balanced growth path
    Transition dynamics

    Keywords

    • endogenous growth
    • vintage capital

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    A vintage model with endogenous growth and human capital. / Benhabib, Jess.

    In: International Journal of Economic Theory, 01.01.2018.

    Research output: Contribution to journalArticle

    @article{12819842612b48dcb9142e7b457360d2,
    title = "A vintage model with endogenous growth and human capital",
    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.",
    keywords = "endogenous growth, vintage capital",
    author = "Jess Benhabib",
    year = "2018",
    month = "1",
    day = "1",
    doi = "10.1111/ijet.12201",
    language = "English (US)",
    journal = "International Journal of Economic Theory",
    issn = "1742-7355",
    publisher = "Wiley-Blackwell",

    }

    TY - JOUR

    T1 - A vintage model with endogenous growth and human capital

    AU - Benhabib, Jess

    PY - 2018/1/1

    Y1 - 2018/1/1

    N2 - 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.

    AB - 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.

    KW - endogenous growth

    KW - vintage capital

    UR - http://www.scopus.com/inward/record.url?scp=85058465537&partnerID=8YFLogxK

    UR - http://www.scopus.com/inward/citedby.url?scp=85058465537&partnerID=8YFLogxK

    U2 - 10.1111/ijet.12201

    DO - 10.1111/ijet.12201

    M3 - Article

    JO - International Journal of Economic Theory

    JF - International Journal of Economic Theory

    SN - 1742-7355

    ER -