Mangroves are part of rich ecosystems providing a variety of environmental goods and services. Underestimation of their value and of the impacts of human activities is a major factor contributing to the widespread loss and degradation of ecosystems. Economists frequently receive the blame for...

We provide a general theoretical characterization of how technology choice affects the long-run elasticity of substitution between capital and labour. While the shape of the technology frontier determines the long-run growth path and the long-run elasticity, adjustment costs in technology choice...