Obsolescence of Capital and Investment Spikes
收藏数据链接：
官方服务：
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
