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12th Workshop on the Research Network "Macroeconomic Policies", Berlin : Germany (2008)

Growth, Capital Scrapping, and the Rate of Capacity Utilisation

Olivier Allain 1, 2, Nicolas Canry 1

(01/11/2008)

The aim of this short article is to build a model in order to take into account capital scrapping (or bankruptcies) in an income distribution and growth model. The reason to introduce capital scrapping results from the intuition of some inconsistencies between theoretical predictions and empirical facts: the rate of capacity utilisation data often exhibit a greater stability than it is expected after reading theoretical models. We think that capital scrapping might contribute to stabilise the utilisation rate. The idea is as follows: an increase of the profit share implies a decrease of the rate of capacity utilisation which then involves a rise in capital scrapping (or in the rate of bankruptcies).

1 :	Centre d'économie de la Sorbonne (CES)
	CNRS : UMR8174 – Université Paris I - Panthéon Sorbonne
2 :	Université Paris 5, Paris Descartes (UP5)
	Université Paris V - Paris Descartes – Ministère de l'Enseignement Supérieur et de la Recherche Scientifique

Domaine

:

Sciences de l'Homme et Société/Economies et finances

Mots Clés : Income distribution – Capital scrapping – Rate of Capacity Utilisation – Imperfect Competition – Growth

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Contributeur : Nicolas Canry <>

Soumis le : Lundi 26 Janvier 2009, 11:31:15

Dernière modification le : Mercredi 28 Janvier 2009, 16:21:55