This paper investigates the effect of human capital accumulation on the direction of technical Change in a framework with natural resources and environmental externalities. The model simulates that an increasing knowledge stock of worker tends to direct technical change in favour of intangible...

While fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous growth model that reconciles the current aggregate...

While fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous growth model that reconciles the current aggregate...

While fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous growth model that reconciles the current aggregate...

Die Innovationsfähigkeit der hoch entwickelten Industrieländer ist ihre wichtigste Quelle für Wohlstand und Wachstum. Das DIW Berlin hat in diesem Jahr zum dritten Mal im Auftrag der Deutschen Telekom Stiftung und des Bundesverbandes der Deutschen Industrie (BDI) einen Gesamtindikator für...

Zur Beurteilung der Innovationsfähigkeit eines Landes ist nicht nur seine aktuelle Position im internationalen Vergleich interessant, sondern auch die Entwicklung über längere Zeiträume hinweg. Um die mittelfristige Dynamik des deutschen Innovationssystems im internationalen Vergleich zu...

We analyze the role of electricity storage for technological innovations in electricity generation. We propose a directed technological change model of the electricity sector, where innovative firms develop better electricity storage solutions, which affect not only the relative competitiveness...

Induced innovation and associated issues of path dependence and inertia are of critical importance in the transition to a carbon free economy. We develop a model that, instead of modeling these processes themselves, models the implications of these characteristics and in the process allows us to...

We analyze a dynamic game between a buyer and a seller of a nonrenewable resource. The seller chooses resource supply; the buyer can pay a fixed cost to invent a perfect substitute for the resource at any time. In closed-loop equilibrium, the buyer adopts the substitute when the resource is...

The framework used to endogenise technology growth by Acemoglu, Aghion, Bursztyn, and Hemous (2012), hereafter AABH, allows the existence of unstable equilibria and does not provide a rationale for specifying which equilibrium should apply when more than one exists. This paper: (i) suggests a...