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Capital Accumulation and Non-Renewable Energy Resources : a Special Functions Case

  • Agustin, PEREZ BARAHONA
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    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 usig Gauss Hypergeometric functions

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    File URL: http://sites.uclouvain.be/econ/DP/IRES/2007-8.pdf
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    Paper provided by Université catholique de Louvain, Département des Sciences Economiques in its series Discussion Papers (ECON - Département des Sciences Economiques) with number 2007008.

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    Length: 57
    Date of creation: 01 Jan 2007
    Date of revision:
    Handle: RePEc:ctl:louvec:2007008
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    1. Raouf, BOUCEKKINE & José R. , RUIZ-TAMARIT, 2004. "Special functions for the study of economic dynamics : The case of the Lucas-Uzawa model," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    2. Perez-Barahona, Agustin & Zou, Benteng, 2006. "A comparative study of energy saving technical progress in a vintage capital model," Resource and Energy Economics, Elsevier, vol. 28(2), pages 181-191, May.
    3. Théophile, AZOMAHOU & Raouf, BOUCEKKINE & Phu, NUYEN VAN, 2003. "Energy consumption, technological progress and economic policy," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2003025, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    4. Pezzey, John C V & Withagen, Cees A, 1998. " The Rise, Fall and Sustainability of Capital-Resource Economies," Scandinavian Journal of Economics, Wiley Blackwell, vol. 100(2), pages 513-27, June.
    5. Grossman, Gene M & Helpman, Elhanan, 1991. "Quality Ladders in the Theory of Growth," Review of Economic Studies, Wiley Blackwell, vol. 58(1), pages 43-61, January.
    6. Grossman, G.M. & Helpman, E., 1989. "Quality Ladders And Product Cycles," Papers 152, Princeton, Woodrow Wilson School - Public and International Affairs.
    7. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    8. BOUCEKKINE, Raouf & POMMERET, Aude, . "Energy saving technical progress and optimal capital stock: the role of embodiment," CORE Discussion Papers RP -1703, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    9. Richard G. Newell & Adam B. Jaffe & Robert N. Stavins, 1998. "The Induced Innovation Hypothesis and Energy-Saving Technological Change," NBER Working Papers 6437, National Bureau of Economic Research, Inc.
    10. Smulders, J.A. & de Nooij, M., 2003. "The impact of energy conservation on technology and economic growth," Other publications TiSEM c4db0986-2132-4216-aa53-0, Tilburg University, School of Economics and Management.
    11. Heal, G., 1990. "The Optimal Use Of Exhaustible Resources," Papers fb-_90-10, Columbia - Graduate School of Business.
    12. Löschel, Andreas, 2001. "Technological change in economic models of environmental policy: a survey," ZEW Discussion Papers 01-62, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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