In this paper, we extend the Romer (1990) model in two ways. First, we include energy consumption of intermediates. Secondly, intermediates become heterogeneous due to endogenous energy saving technical change. However, aggregate effective capital is still subject to endogenous technical change...

The methods by which fuels can be converted into electricity all belong to different “technology families”: the “gas-fired-turbine-family”, the “coal-fired-turbine-family”, etc. Each family consists of different generations of similar technologies, as in a vintage model. Within a...

This paper investigates whether the inherent non-stationarity of macroeconomic time series is entirely due to a random walk or also to non-linear components. Applying the numerical tools of the analysis of dynamical systems to long time series for the United States, we reject the hypothesis that...

Vintage models have been around for a long time now. Since their conception in the late Fifties and early Sixties they have been adopted by economists interested in the connection between technical change and economic growth, because they highlight a number of important insights regarding the...

This paper deals with the problem of tackling the adverse effect of output growth on environmental quality. For this purpose we use an intermediate sector that builds ‘putty-practically-clay’ capital consisting of an energy-raw capital amalgam used for final goods production. The...

In this paper we present the outlines of an endogenous growth model that focuses on the labour market- and skill-aspects of economic policy measures that may have an impact on technological change, and hence on the long term effectiveness of the policy measures concerned. The link between skills...

In this paper we present an endogenous growth model based on Lucas (1988). We have extended the Lucas model by incorporating ICT-capital next to human capital. We take account of spillovers from ICT use in human capital formation to final output production. The effects on growth of these...

By formulating an endogenous growth model that combines elements from Romer (1990), Aghion and Howitt (1992), and van Zon and Yetkiner (2003), the present paper studies the contribution of education and training on economic growth through their impact on the rate of innovation. The article...

In this paper, we present a simple endogenous growth model that allows for the occurrence of innovations that can develop into General Purpose Technologies (GPTs), which are the result of basic R&D. The model incorporates the main features of the Romer (1990) model and the Aghion and Howitt...

For a long time economists have tended to ignore health as a relevant factor of production and important determinant of economic growth. The widely observed positive relationship between health expenditures and economic growth was considered the result of a strong positive income effect....