Construct · 1 fields · 1 citations

vintage: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
vintage1 CONSTRUCTVintage capitalSOLOW · VINTAGE CAPITAL

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Economics

Capital goods grouped by their year of construction

In growth economics, a vintage is the cohort of capital goods installed in a given period, and vintage-capital models (originating with Solow) assume that newer vintages embody more advanced technology, so productivity depends on the age distribution of the capital stock rather than on its total size alone. Hritonenko and Yatsenko analyse optimal investment and scrapping in a Solow vintage-capital model. The referent is an age-indexed cohort of productive assets, colliding with wine only on the word "vintage."[1]

Unit
The productivity embodied in capital goods indexed by their installation year
Recovery means
Not applicable
Measured by
Modelled by capital age distribution, embodied technical change, and optimal scrapping age

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Nearby constructs

capital2 fields · 3 citationsjingle · one word, two constructscharacter4 fields · 4 citationsjingle · one word, four constructsclass3 fields · 3 citationsjingle · one word, three constructs

References

  1. Hritonenko, N., & Yatsenko, Y. (2008). Optimal control of Solow vintage capital model with nonlinear utility. Optimization, 57(4), 581–592. https://doi.org/10.1080/02331930601124583

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