a real business cycle model where the decisions of firms about physical capital utilization, maintenance, improvement … capital utilization, while it shares features with the Burnside, Eichenbaum and Rebelo (1993) variable work effort model. …

We present a unified theoretical framework capable to address the main real capital decision problems. Initially we … specify a continous-time, terminal-horizon real capital model and use it to trace the properties of optimal utilisation …

This paper analyses the optimal behaviour of a trade union trying to extract capital rents. It shows that wages can …

good and a non-traded good by using two or more factors of production, one of which, namely capital, is imperfectly …

infrastructureâ��s operations and maintenance (O&M) have roughly equalled those for new capital. We use this dataset to …