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Economic Growth and the Environment : A Review of Theory and Empirics

Brock, William A. - 2004

This paper reviews both theory and empirical work on economic growth and the environment. We develop four simple growth models to help us identify key features generating sustainable growth. We show how some combination of technological progress in abatement, intensified abatement, shifts in the...

Persistent link: https://www.econbiz.de/10012467835

The Demise of U.S. Economic Growth : Restatement, Rebuttal, and Reflections

Gordon, Robert J. - 2014

The United States achieved a 2.0 percent average annual growth rate of real GDP per capita between 1891 and 2007. This paper predicts that growth in the 25 to 40 years after 2007 will be much slower, particularly for the great majority of the population. Future growth will be 1.3 percent per...

Persistent link: https://www.econbiz.de/10012458768

Is the Macroeconomy Locally Unstable and Why Should We Care?

Beaudry, Paul - 2016

In most modern macroeconomic models, the steady state (or balanced growth path) of the system is a local attractor, in the sense that, in the absence of shocks, the economy would converge to the steady state. In this paper, we examine whether the time series behavior of macroeconomic aggregates...

Persistent link: https://www.econbiz.de/10012456400

The Free Rider Problem : a Dynamic Analysis

Battaglini, Marco - 2012

We present a dynamic model of free riding in which n infinitely lived agents choose between private consumption and contributions to a durable public good g. We characterize the set of continuous Markov equilibria in economies with reversibility, where investments can be positive or negative; and...

Persistent link: https://www.econbiz.de/10012460730

The Optimal Inflation Target and the Natural Rate of Interest

Andrade, Philippe - 2018

We study how changes in the value of the steady-state real interest rate affect the optimal inflation target, both in the U.S. and the euro area, using an estimated New Keynesian DSGE model that incorporates the zero (or effective) lower bound on the nominal interest rate. We find that this...

Persistent link: https://www.econbiz.de/10012453386

A Theory of Endogenous Degrowth and Environmental Sustainability

Aghion, Philippe; Boppart, Timo; Peters, Michael; … - National Bureau of Economic Research - 2025

We develop and quantify a novel growth theory in which economic activity endogenously shifts from material production to quality improvements. Consumers derive utility from goods with differing environmental footprints: necessities are material-intensive and polluting, while luxuries are more...

Persistent link: https://www.econbiz.de/10015421878

From Imitation to Innovation : Where Is all that Chinese R&D Going?

König, Michael D. - 2020

distribution of R&D and TFP growth in China during the period 2007--2012. The estimated model fits the Chinese data well. We …

Persistent link: https://www.econbiz.de/10012481599

Trade Growth, Production Fragmentation, and China's Environment

Dean, Judith M. - 2008

products, aggravating environmental damage. China's rapidly growing trade and serious environmental degradation appear to be no … exception. However, much of China's trade growth is attributable to the international fragmentation of production. This kind of … trade could be cleaner, if fragmented production occurs in cleaner goods, or if China specializes in cleaner stages of …

Persistent link: https://www.econbiz.de/10012464787

The Real Exchange Rate, Mercantilism and the Learning by Doing Externality

Aizenman, Joshua - 2008

This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD...

Persistent link: https://www.econbiz.de/10012464794

Globalization and the Sustainability of Large Current Account Imbalances : Size Matters

Aizenman, Joshua - 2008

to the relative size of the countries' GDP. We conclude that the continuation of the fast growth rate of China, while …

Persistent link: https://www.econbiz.de/10012464913