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While fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous growth model that reconciles the current aggregate...
Persistent link: https://www.econbiz.de/10010289359
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10010315207
Industrial Revolution? We argue that Britain possessed an important but underappreciated innovation advantage: British inventors … worked in technologies that were more central within the innovation network. We offer a new approach for measuring the … innovation network using patent data from Britain and France in the late-18th and early-19th century. We show that the network …
Persistent link: https://www.econbiz.de/10015096999