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December 10, 2009 | History

When should firms invest in old capital? 1 edition

When should firms invest in old capital?
Boyan Jovanovic

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When should firms invest in old capital?
Boyan Jovanovic.

Published 2008 by National Bureau of Economic Research in Cambridge, MA .
Written in English.

About the Book

"This paper studies optimal investment policies when the production function depends on capital of various vintages. In such an environment it is natural to ask whether the firm will invest in old-vintage capital at all. In this paper I derive such a condition. Predictably, investment in old capital takes place if the elasticity of substitution between old and new capital is low, and when the depreciation of capital is high. But other parameters such as the rates of technological progress and depreciation matter as well"--National Bureau of Economic Research web site.

Edition Notes

Title from PDF file as viewed on 7/9/2008.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.

Series
NBER working paper series -- working paper 14000, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 14000.

Classifications

Library of Congress
HB1

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL17087911M
LC Control Number
2008610839

History

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