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This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory - the … engineers diverged in their growth trajectories over the next century. The results are supported by historical case studies from …
Persistent link: https://www.econbiz.de/10011602763
The paper revisits the debate on trickle-down growth in view of the widely discussed evolution of the earnings and … model to dynamically evaluate whether economic growth triggered by an increase in public education expenditure on behalf of … inequality follows an inverted U-shaped evolution. …
Persistent link: https://www.econbiz.de/10010417999
We analyze the adoption of green technology in a dynamic economy affected by random shocks where demand spillovers are the main driver of technological improvements. Firms' beliefs and consumers' anticipations drive the path of the economy. We derive the optimal policy of investment subsidy and...
Persistent link: https://www.econbiz.de/10011657885
Environmental regulations have consistently been found to spur innovation in "clean" technologies, with one significant exception. Past cap-and-trade programs have encouraged adoption of existing pollution control technologies, but had little effect on innovation. Several explanations have been...
Persistent link: https://www.econbiz.de/10011788868
Integrated assessment models (IAMs) provide key inputs to decision-makers on economically efficient climate policies, and technical change is one of the key assumptions in any IAM that estimates mitigation costs. We conduct a systematic survey of how technical change is currently represented in...
Persistent link: https://www.econbiz.de/10014515010
This paper revisits one of the rare success stories in global environmental cooperation: the Montreal Protocol and the phase-out of ozone-depleting substances. I show that the protocol increased science and innovation on alternatives to ozone-depleting substances, and argue that agreements can...
Persistent link: https://www.econbiz.de/10014391277
power. The challenge is how to make the rising demand for economic growth, mainly coming from developing and emerging …
Persistent link: https://www.econbiz.de/10010223439
I build a quantitative model of economic growth that can be used to evaluate the impact of environmental policy … evidence on energy use, efficiency, and prices in the United States, as well as the standard balanced growth facts. I use the …
Persistent link: https://www.econbiz.de/10012817938
I construct and analyze a growth model in which technical change can increase unemployment. I first analyze the forces … interaction generates a balanced growth path that is observationally equivalent to that of the standard neoclassical growth model …, this change leads to faster growth in output per worker and wages, but it also yields higher unemployment and a lower labor …
Persistent link: https://www.econbiz.de/10014583789
country. We analyze the consequences of this migration for both inequality and welfare for the source and the host country …
Persistent link: https://www.econbiz.de/10008798818