Vintage capital, investment, and growth
在连续时间模型中研究年代资本对增长和投资动态的影响，探讨非指数折旧和技术变化如何解释投资时间序列的波动性。
We study the dynamics of growth and investment in a continuous time model with vintage capital. Vintage capital models may be characterized by non-exponential rates of depreciation and technical change and can incorporate “gestation lags” as well as “learning by using.” We investigate the effect of such features on the dynamics of investment and growth and show how they can contribute to explaining the volatile nature of investment time-series.