Vintage versus homogeneous capital in simulations of population ageing: does it matter?

There are no files associated with this record.

Title Vintage versus homogeneous capital in simulations of population ageing: does it matter?
Author Guest, Ross; McDonald, Ian
Journal Name Applied Economics Letters
Year Published 2003
Place of publication UK
Publisher Taylor & Francis Ltd.
Abstract The vintage and homogeneous capital forms of the aggregate production function can be calibrated to generate the same output level from a given data set in steady state. However, it is shown show that this equivalence breaks down during the adjustment process to an employment shock, such as that caused by an ageing population. Simulations are conducted illustrating the magnitude of the difference in optimal labour productivity growth under the two models.
Peer Reviewed Yes
Published Yes
Alternative URI http://dx.doi.org/10.1080/1350485022000043995
Volume 10
Page from 149
Page to 153
ISSN 1350-4851
Date Accessioned 2004-01-19
Date Available 2015-02-11T04:02:34Z
Language en_US
Research Centre Griffith Asia Institute
Subject PRE2009-Macroeconomics (incl. Monetary and Fiscal Theory)
URI http://hdl.handle.net/10072/6478
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

Show simple item record

Griffith University copyright notice