Hassler, John; Sinn, Hans-Werner - C.E.P.R. Discussion Papers - 2012
biocarbon. One shock only, the discovery of the technology to use fossil fuels, leads to a transition from an inital pre …-industrial phase to three following phases: a pure fossil carbon phase, a mixed fossil and biocarbon phase and an absorbing biocarbon … phase. The increased competition for biocarbon during phase 3 and 4 leads to increasing food prices. We provide closed form …