Cadiou, Loı̈c; Dées, Stéphane; Laffargue, Jean-Pierre - In: Journal of Economic Dynamics and Control 27 (2003) 11, pp. 1961-1991
This paper presents a vintage capital model assuming putty–clay investment and perfect foresight. The model is written in discrete time and is simulated by using a second order relaxation algorithm. By computing the eigenvalues of the dynamic system, we have checked the conditions of existence...