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On the Optimal Control of the Vintage Capital Growth Model with Endogenous Labour Supply

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  • Boucekkine Raouf

    (Aix-Marseille University (Aix-Marseille School of Economics), CNRS & EHESS; IRES and CORE, Université catholique de Louvain, Louvain-La-Neuve, Belgium)

  • Hritonenko Natali

    (Department of Mathematics, Prairie View A&M University, USA)

  • Yatsenko Yuri

    (School of Business, Houston Baptist University, USA)

Abstract

We prove that the introduction of endogenous indivisible labor supply into the vintage capital growth model does not rule out the turnpike and optimal permanent regime properties, notably the non-monotonicity properties of optimal paths, inherent in this model.

Suggested Citation

  • Boucekkine Raouf & Hritonenko Natali & Yatsenko Yuri, 2013. "On the Optimal Control of the Vintage Capital Growth Model with Endogenous Labour Supply," Mathematical Economics Letters, De Gruyter, vol. 1(1), pages 3-7, October.
    • Handle: RePEc:bpj:maecol:v:1:y:2013:i:1:p:3-7:n:1
    DOI: 10.1515/mel-2013-0001
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    References listed on IDEAS

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    1. Malcomson, James M., 1975. "Replacement and the rental value of capital equipment subject to obsolescence," Journal of Economic Theory, Elsevier, vol. 10(1), pages 24-41, February.
    2. N. Hritonenko & Yu. Yatsenko, 2005. "Turnpike and Optimal Trajectories in Integral Dynamic Models with Endogenous Delay," Journal of Optimization Theory and Applications, Springer, vol. 127(1), pages 109-127, October.
    3. Boucekkine, Raouf & Germain, Marc & Licandro, Omar, 1997. "Replacement Echoes in the Vintage Capital Growth Model," Journal of Economic Theory, Elsevier, vol. 74(2), pages 333-348, June.
    4. Boucekkine, Raouf & Germain, Marc & Licandro, Omar & Magnus, Alphonse, 1998. "Creative Destruction, Investment Volatility, and the Average Age of Capital," Journal of Economic Growth, Springer, vol. 3(4), pages 361-384, December.
    5. repec:cor:louvrp:-1376 is not listed on IDEAS
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    Cited by:

    1. Raouf Boucekkine & Natali Hritonenko & Yuri Yatsenko, 2013. "Health, Work Intensity, and Technological Innovations," AMSE Working Papers 1320, Aix-Marseille School of Economics, France, revised Mar 2013.
    2. Vahdani, Behnam & Mohammadi, Mehrdad & Thevenin, Simon & Meyer, Patrick & Dolgui, Alexandre, 2023. "Production-sharing of critical resources with dynamic demand under pandemic situation: The COVID-19 pandemic," Omega, Elsevier, vol. 120(C).

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