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Further Results On “An Endogenous Growth Model With Embodied Energysaving Technical Change”
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[10]268-726-1-PB.pdf
Date
2008-12
Author
Yetkiner, İ. Hakan
van Zon, Adriaan
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In this paper we add a non-renewable resource sector to van Zon and Yetkiner (2003) that extended Romer (1990) by including energy consumption of intermediate goods in a context of endogenous and embodied technical change. Van Zon and Yetkiner (2003) showed that the growth rate depends negatively on the growth of exogenous real energy prices. In this paper, we endogenise the growth rate of real energy prices by introducing a non-renewable resource sector into the model. This allows us to study the comparative statics of the model. We show that changes in technology parameters promote growth, while others disfavour growth.
Subject Keywords
Endogenous Growth
,
Energy-Saving Technological Change
,
Hotelling’s Rule
URI
http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/268
https://hdl.handle.net/11511/58496
Journal
METU Studies in Development
Collections
Department of Economics, Article