Machine Replacement, Technology Adoption and Convergence.

Preprint, Research English OPEN
Boucekkine, Raouf; Martinez, Blanca;
(1999)
  • Subject: Technology adoption | Fluctuations | Convergence | Machine replacement; Technology adoption; Optimal scrapping; Fluctuations; Convergence | Optimal scrapping | Machine replacement
    • jel: jel:E32 | jel:E22 | jel:O40 | jel:C63

In this paper, we introduce adoption costs in a canonical vintage capital model. Adoption costs take the form of a direct loss in production during a fixed period of time. We explicitly characterize the optimal machine replacement policy as a function of the adoption pe... View more
  • References (11)
    11 references, page 1 of 2

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