Melnikov, N.B.; O'Neill, B.C.; Dalton, M.G. - In: Energy Economics 34 (2012) 5, pp. 1475-1483
We describe and evaluate a new method of aggregating heterogeneous households that allows for the representation of changing demographic composition in a multi-sector economic growth model. The method is based on a utility and labor supply calibration that takes into account time variations in...