This paper presents a macroeconomic approach to sustainable growth. After clarifying the concept of sustainability, the interdependence between natural resources and accumulated capital stocks such as physical, human, and knowledge capital is discussed. The conditions for the substitution...

This paper analyses the consequences of tightening environmental policy for economic growth. To find out how the new balanced growth path is reached in the long run, we simulate numerically for the short and medium term the transition path of a change in environmental policy within an endogenous...

This paper examines the Lucas Paradox and the Allocation Puzzle of international capital flows referring to a panel data set of EMU countries and major industrialized and emerging economies. Overall, the results do not provide evidence in favour of the Lucas Paradox and the Allocation Puzzle....

Wie kann eine Green Economy in Deutschland gestaltet werden? Wie kann die sozialökologische Transformation trotz aller Pfadabhängigkeiten und Hindernisse gelingen? Und welche Faktoren sind hierfür auf den unterschiedlichen Ebenen und Feldern wie Mobilität, Ressourcenschonung oder...