We derive an R&D-based semi-endogenous growth model where technological progressdepends on the available amount of technological opportunity. Incremental innovationsprovide direct increases in the knowledge stock but they reduce technological opportunityand thus the potential for further...

This article considers an economy whose production function takes both renewable and non-renewable resources as inputs. We extend the current literature by allowing for exogenous technical change in the elasticity of substitution between these two types of resources. In addition, we study the...

This article analyses growth of an economy where the substitutability between non-renewable and renewable resource inputs changes over time. We allow for exogenous technical change in the elasticity of substitution (EoS) between these two types of resources as well as for biased...

We derive a R&D-based growth model where the rate of technological progress depends, inter alia, on the amount of technological opportunity. Incremental innovations provide direct increases to the knowledge stock but they reduce technological opportunity and thus the potential for further...