Boucekkine, Raouf; Martínez, Blanca; Río, Fernando del - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005
costs. Within this model, we identify the rate of age-related depreciation and the rate of scrapping. We study the …-related depreciation rate and the scrapping rate increase when embodied technical progress accelerates. In contrast, the latter drops when …