期刊名称：Discussion Paper / Département des Sciences Économiques de l'Université Catholique de Louvain
印刷版ISSN：1379-244X
出版年度：2001
卷号：1
出版社：Université catholique de Louvain
摘要：In this paper, we study the properties of optimal growth models à la Nelson and Phelps (1966) where the labor resources of an economy can be allocated freely either to production, technology adoption or capital maintenance. We first characterize the balanced growth paths of a benchmark model without maintenance services. Then we introduce te maintenance activity via the depreciation rate of capital. We characterize the optimal allocation of labor across the three activities. We prove that when technolgical shocks occur, equilibrium maintenance and adoption operate in opposite directions. The main prediction of the model is that though capital maintenance deepens the technological gap by diverting labor resources from adoption, it generally increases the long run output level at equilibrium
关键词：Technology adoption; Capital maintenance; Technological gap; Long run output level
