The embodiment controversy: On the policy implications of vintage capital models
We explore the long-run impact of policy on the level of economic activity through changes in the vintage distribution of capital, in a model where different vintages coexist in production. Because firms can choose the vintage of capital in which they invest, investment subsidies do not affect the v...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2022
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/2560 https://ink.library.smu.edu.sg/context/soe_research/article/3559/viewcontent/Embodiment_Controversy_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |