When analyzing potential ways to counter climate change, standard models of green growth abstract from investment in substitutability between "clean" and "dirty" energy inputs. Instead, they rely on the assumption that efficiency with respect to fossil fuels can be increased perpetually....

There is widespread concern that climate policy is moving too slowly and that decarbonization of economic development is coming too late for effective climate protection. We analyze three different effects that emerge endogenously during decarbonization and amplify current policies: growing...

There is growing interest in multi-sector models that combine aggregate balanced growth, consistent with the well-known Kaldor facts, with systematic changes in the sectoral allocation of resources, consistent with the Kuznets facts. Although variations in the income elasticity of demand across...

There is a growing interest in multi-sector models that combine aggregate balanced growth, consistent with the well-known Kaldor facts, with systematic changes in the sectoral allocation of resources, consistent with the Kuznets facts. Although variations in the income elasticity of demand...

Purpose: To specify a Variable Elasticity of Substitution function (VES), in which the estimated Elasticity of Substitution (ES) can give some implications for the tendency of economic growth in the Vietnames manufacturing sector.Design/Methodology/Approach: The contribution and the relevant...

We incorporate a variable elasticity of substitution production function into an overlapping generations model à la Diamond (1965). We show that a certain parameter in the production function is a source of biased technical change is a crucial determinant of the economy's growth dynamics. For...