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In the postwar period until today the call for more intensive economic growth, again and again, enjoyed a substantial popularity in the world of politics, in particular with reference to possible current solutions of given economic problems. Here growth considerations and decisions in the past...
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This paper focuses on how emission tax revenues change relative to GNP, when a fixed environmental standard is implemented by an emission tax and when waste abatement, technical and structural change and capital accumulation is accounted for. One- and two-sector growth models are analyzed...
Persistent link: https://www.econbiz.de/10011615506
Growth models often give rise to saddle-point stable dynamic systems with multi-dimensional stable manifolds. It is argued that standard solution procedures used to numerically approximate the transition process are generally inadequate when the (stable) eigenvalues differ substantially in...
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In this paper, the process of productivity convergence is investigated for the enlarged European Union using regional (NUTS-2) data. The Solow model extended by human capital is employed as a workhorse. Alternative strategies are proposed to control for spatial effects. All specifications...
Persistent link: https://www.econbiz.de/10003387127
A classical theorem by H. Poincare asserts that the characteristic roots at a rest point of a continuous-time autonomous variational or Hamiltonian dynamical system come in opposite-signed pairs. This result confirms the catenary motion of efficient capital accumulation paths around a...
Persistent link: https://www.econbiz.de/10011613590