initial capital stock below that of the steady state of the carbon-freeeconomy and the initial cost of oil (extraction cost … capital stock is aboveits steady state or renewables have an initial cost advantage. …

decreases tariffs in the years to follow yet to a lesser extent, most notably in capital scarce economies with a relatively …

theeffects of taxation - including income taxation, capital incometaxation and labor income taxation - distinguishes between … incometaxation, where capital and labor income are taxed equally, theresulting effect on the growth rate is negative. The … contributionof endogenous leisure is confined to reducing or increasing thesize of the effect on the growth rate. If only capital …