KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual … property (IP) capital, and traditional capital. I assume that the aggregate output is produced using labor and these three … types of capital and allow for differences in the elasticities of substitution between labor, an aggregate of ICT and IP …

KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual … property (IP) capital, and traditional capital. I assume that the aggregate output is produced using labor and these three … types of capital and allow for differences in the elasticities of substitution between labor, an aggregate of ICT and IP …

In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate … of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the …

various new distortions between private and optimal solution. First, a monopoly distortion effect generates too little capital … accumulation in the private solution because households' gross return per unit of capital will be lower than in the social optimum …

When analyzing potential ways to counter climate change, standard models of green growth abstract from investment in … fuels can be increased perpetually. However, this is not in line with observed firm investment behavior and the limits to … investment to increase input substitutability, in addition to investment in efficiency. The model predicts that, for a growing …