This paper offers a comprehensive study on transitional dynamics within R&D-based models of endogenous growth. There are two main motivations. First, the complete dynamic system for the market solution is derived in general form. Second, using this dynamic system as a unifying framework the...

The author examines the effect of restricting international emissions trading on the development of low-carbon technologies. He extends an integrated assessment model to include endogenous investments in carbon energy productivity. The question of whether or not restrictions on international...