Skip to main content

Long-Run Investment and Endogenous Technical Progress: Dynamic and Vintage-Type Models

  • Chapter
Global Environmental Economics
  • 114 Accesses

Abstract

In this chapter we set out to model the economic aspects of the CO2 problem under endogenous technical progress (Romer, 1990). Such models appear more natural and provide increased flexibility and realism for policy-making purposes.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 39.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Dixit, A. K., The Theory of Equilibrium Growth, Oxford University Press; Oxford, 1977.

    Google Scholar 

  • Dixit, A. K., ‘Growth Theory after Thirty Years’, in P. Diamond (ed.), Growth/Productivity/Unemployment, MIT Press: Cambridge, Mass 1990, pp. 3–22.

    Google Scholar 

  • Goodwin, H., Chaotic Economic Dynamics, Clarendon Press, Oxford 1990.

    Book  Google Scholar 

  • Ingham, A., Ulph, A. et al., “A Vintage Model of Scrapping and Investment”, University of Southampton, Discussion Papers in Economics and Econometrics, No. 8724, Nov. 1987.

    Google Scholar 

  • Jorgenson, D.W., “Capital as a Factor of Production”, in Jorgenson, D.W. and R. Landan (eds.), Technology and Capital Formation, MIT Press: Cambridge, Mass., 1989, pp. 1–35.

    Google Scholar 

  • Manne, A. S., and R. G. Richels, Buying Greenhouse Insurance: The Economic Costs of CO 2 Emission Limits, MIT Press: Cambridge, Mass. 1992a.

    Google Scholar 

  • Romer, P. M., “Endogeneous Technological Change”, Journal of Political Economy 98, 1990, 71–102.

    Article  Google Scholar 

  • Schelling, T. C., “Economic Responses to Global Warming”, in International Burden Sharing and Co-ordination: Prospects for Co-operative Approaches to Global Warming, Brookings: Washington D.C., 1991.

    Google Scholar 

  • Scherago, J. D. et al, GEMINI: An Energy-Environmental Model of the United States”, A Status Report on Model Development, Workshop on Economic/Energy/ Environmental Modelling for Climate Policy Analysis, University of Tokyo/MIT Centre for Energy Policy Research, Oct 22-23, 1990.

    Google Scholar 

  • Smith, V. L., “Control Theory Applied to Natural and Environmental Resources”, Journal of Environmental Economics and Management 4, 1977, 1–24.

    Article  Google Scholar 

  • Smith, V. Kerry, Technical Change, Relative Prices and Environmental Resource Evaluation, Resources for the Future, Johns Hopkins University Press: Baltimore, 1974.

    Google Scholar 

  • Solow, R. M., Capital Theory and the Rate of Return, F. de Vries Lectures, North Holland: Amsterdam, 1964.

    Google Scholar 

  • Solow, R. M., Growth Theory: An Exposition, Oxford University Press: Oxford, 1988.

    Google Scholar 

  • Spash, C. L. and d’Arge, R. C., “The Greenhouse Effect and Intergenerational Transfers”, Energy Policy 17(2), April 1989, 88–96.

    Article  Google Scholar 

  • Uzawa, H., “Optimal Growth in a Two-Sector Model of Capital Accumulation”, Chapter 17 in H. Uzawa, Preferences, Production and Capital, Cambridge University Press: Cambridge, 1988.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

Copyright information

© 1998 Springer Science+Business Media Dordrecht

About this chapter

Cite this chapter

Gottinger, H.W. (1998). Long-Run Investment and Endogenous Technical Progress: Dynamic and Vintage-Type Models. In: Global Environmental Economics. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-5435-6_4

Download citation

  • DOI: https://doi.org/10.1007/978-1-4615-5435-6_4

  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-1-4613-7482-4

  • Online ISBN: 978-1-4615-5435-6

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics