A benchmark AK optimal growth model with maintenance expenditures and endogenous utilization of capital is considered within an explicit vin- tage capital framework. Scrapping is endogenous, and the model allows for a clean distinction between age and usage dependent capital deprecia- tion and...

A benchmark AK optimal growth model with maintenance expenditures and endogeneous utilization of capital is considered within an explicit vintage capital framework. Scrapping is endogenous, and the model allows for a clean distinction between age and usage dependent capital depreciation and...

In this paper, we devise a social criterion in the spirit of the critical utility level of Blackorby-Donaldson (1984) to study an optimal population size problem in an endogenously growing economy populated by workers living a fixed amount of time and without capital accumulation. Population...

We reconsider the optimal population size problem in a continuous time economy populated by homogenous cohorts with a fixed life span. This assumption is combined with a linear production function in the labor input and standard rearing costs. A general social welfare function is specified,...

We reconsider the optimal population size problem in a continuous time economy populated by homogenous cohorts with a fixed life span. Linear production functions in the labor input and standard rearing costs are also considered. First, we study under which conditions the successive cohorts will...