Obsolescence of Capital and Investment Spikes
收藏NBER2020-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w28017
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资源简介：
The prospect of capital obsolescence inhibits investment. Investors thus become more optimistic when the obsolescence of their capital slows down. We propose a model with no fixed costs of investment, and random technological progress that induces obsolescence of capital in place. Spikes occur
提供机构：
美国国家经济研究局
创建时间：
2020-11-01
