This paper employs a dynamic multi-sector growth model with changing technology to study the relevance of the price and quantity dimensions involved in the technical substitution of carbon-intensive technology, that is, the low-carbon transition. For the framing of the transition, the stylized...

Summary The rise of the East-German economy in the 1950s and 1960s and its decline in the 1970s and 1980s is difficult to explain by neoclassical economics. However; the observed life cycle may be explained by the inclusion of concepts from old and new institutional economics and from functional...