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Persistent link: https://www.econbiz.de/10010229551
This paper studies an optimal endogenous growth model using physical capital, labor and two kinds of natural resources in the final goods sector and employing labor to accumulate knowledge. Based on results in calculus of variations, a direct proof of existence of optimal solution is provided....
Persistent link: https://www.econbiz.de/10008751505
the role of imperfect substitution on the optimal transition path to the clean technologies? We address this question by …
Persistent link: https://www.econbiz.de/10010752814
This paper investigates the optimal taxation path of a non-renewable resource in the presence of an imperfect substitute renewable resource. We present an optimal growth model and characterize the social optimum and the decentralized equilibrium. We show that the economy gradually reduces the...
Persistent link: https://www.econbiz.de/10011094056
this analysis, it is clear that substitution of resource use from non-renewable to renewable yields an environment …
Persistent link: https://www.econbiz.de/10004992589
Efficiency and sustainability often clash if limited-tenure use rights for renewable natural resources are rented to … refund if a sustainability goal is obeyed. In addition, the mechanism ensures efficiency and is self-financing in expectation. …
Persistent link: https://www.econbiz.de/10010270221
the feasibility conditions under which a fishery manager can achieve sustainability objectives which simultaneously …
Persistent link: https://www.econbiz.de/10010576573
determine the feasibility conditions under which a fishery manager can achieve sustainability objectives which simultaneously …
Persistent link: https://www.econbiz.de/10008801002
-renewable resource (like oil, coal) in a model of sustainable growth. The prospects for sustainability on the optimal path depend … learning-by-doing in account, we find that this leads to an earlier switching time but does not guarantee sustainability. …
Persistent link: https://www.econbiz.de/10009368026
We develop a stochastic endogenous growth model involving a non-renewable resource, in which innovation arrivals are governed by a non-stationary Poisson process. Using a CRRA analytical example, we characterize the optimal trajectories of the model and analyze the effects of uncertainty in the...
Persistent link: https://www.econbiz.de/10010780038