vintage capital

Raouf Boucekkine , David de la Croix and Omar Licandro
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
Back to top

Abstract

This article reviews the early vintage capital literature of the 1960s, and identifies the factors behind the revival of topic from the 1990s. The fundamental properties of the seminal vintage capital growth models are disentangled, and the origins of the associated controversy on the importance of embodied technical progress are evoked. The recent revival of this literature is analysed with special emphasis on the rising support for the Solowian view of investment following Gordon's 1990 fundamental work on the price of durable goods, and the emergence of a new vintage human capital literature devoted to some fundamental economic growth issues.
Back to top

Keywords

Back to top

Article

Back to top

How to cite this article

Boucekkine, Raouf, David de la Croix and Omar Licandro. "vintage capital." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 21 October 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_V000072> doi:10.1057/9780230226203.1799

Download Citation:

as RIS | as text | as CSV | as BibTex