On the Optimal Control of the Vintage Capital Growth Model with Endogenous Labour Supply

Raouf Boucekkine (1) , Natali Hritonenko (2) , Yuri Yatsenko (3)

1 GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille
2 Prairie View
3 School of business, Houston Baptist University

We prove that the introduction of endogenous indivisible labor supply into the vintage capital growth model does not rule out the turnpike and optimal permanent regime properties, notably the non-monotonicity properties of optimal paths, inherent in this model.

Mots clés: endogenous labor supp; integral equations with delays and advances; Optimal control; Vintage capital

Domaines: Sciences de l'Homme et Société; Economies et finances

Raouf Boucekkine, Natali Hritonenko, Yuri Yatsenko. On the Optimal Control of the Vintage Capital Growth Model with Endogenous Labour Supply. Mathematical Economics Letters, 2013, 1 (1), pp.3--7. ⟨10.1515/mel-2013-0001⟩. ⟨hal-01498250⟩