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Capital accumulation and non-renewable energy resources: a special functions case

Author

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  • PÉREZ-BARAHONA, Agustin

    (Université catholique de Louvain (UCL). Center for Operations Research and Econometrics (CORE))

Abstract

In this paper, we study the implications of assuming different technologies for physical capital accumulation and consumption. More precisely, we assume that physical capital accumulation is relatively more energy-intensive than consumption. We conclude that this hypothesis, together with the possibility of technical progress (in particular, energy-saving technical progress), has important implications on economic growth. This model entails some technical difficulties. However, we provide a full analytical characterization of both short and long-run dynamics using Gauss Hypergeometric functions.

Suggested Citation

  • PÉREZ-BARAHONA, Agustin, 2007. "Capital accumulation and non-renewable energy resources: a special functions case," CORE Discussion Papers 2007009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvco:2007009
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    File URL: http://www.uclouvain.be/cps/ucl/doc/core/documents/coredp2007_9.pdf
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    More about this item

    Keywords

    non-renewable resources; energy-saving technical progress; special functions.;

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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