Similar Search Results

The Cost of Environmental Policy Under Induced Technical Change

Smulders, Sjak - 2013

Conventional wisdom argues that environmental policy is less costly if environmental policy induces the development of cleaner technologies. In contrast to this argument, we show that the cost of environmental policy (a reduction in emissions) may be larger with induced technical change than...

Persistent link: https://www.econbiz.de/10013090604

Fueling Growth When Oil Peaks : Directed Technological Change and the Limits to Efficiency

André, Francisco J.; Smulders, Sjak - 2021

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/10013315849

Endogenous Capital-and Labor-Augmenting : Technical Change in the Neoclassical Growth Model

Irmen, Andreas - 2016

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital-and labor-augmenting technical change. We develop a...

Persistent link: https://www.econbiz.de/10013001160

Factor Income Distribution and Endogenous Economic Growth - When Piketty Meets Romer

Irmen, Andreas - 2017

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …

Persistent link: https://www.econbiz.de/10012965706

Migration, Congestion and Growth

Azarnert, Leonid V. - 2017

This article analyzes the effect of migration from a less advanced economy to a more advanced economy on economic growth. The analysis is performed in a two-country growth model with endogenous fertility, in which congestion diseconomies are incorporated. The model shows that out-migration...

Persistent link: https://www.econbiz.de/10012953488

Dynamically Optimal R&D Subsidization

Grossmann, Volker - 2010

Previous research on optimal R&D subsidies has focussed on the long run. This paper characterizes the optimal time path of R&D subsidization in a semi-endogenous growth model, by exploiting a recently developed numerical method. Starting from the steady state under current R&D subsidization in...

Persistent link: https://www.econbiz.de/10013139245

Quantifying Optimal Growth Policy

Grossmann, Volker - 2010

The optimal mix of growth policies is determined within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and accounts for transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct...

Persistent link: https://www.econbiz.de/10013142140

Property Rights, Optimal Public Enforcement, and Growth

Irmen, Andreas - 2011

We study the link between public enforcement of property rights, innovation investments, and economic growth in an endogenous growth framework with an expanding set of product varieties. We find that a government may assure positive equilibrium growth through public employment in the enforcement...

Persistent link: https://www.econbiz.de/10013117503

Do Cost-Sharing and Entry Deregulation Curb Pharmaceutical Innovation?

Grossmann, Volker - 2011

This paper examines the role of both cost-sharing schemes in health insurance systems and entry regulation for pharmaceutical R&D expenditure, drug prices, aggregate productivity, and income. The analysis suggests that both an increase in the coinsurance rate and stricter price regulations...

Persistent link: https://www.econbiz.de/10013125326

Endogenous Growth, The Distribution of Wealth, and Optimal Policy Under Incomplete Markets and Idiosyncratic Risk

Clemens, Christiane - 2012

This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...

Persistent link: https://www.econbiz.de/10013105141