Further Results On “An Endogenous Growth Model With Embodied Energysaving Technical Change”

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

Collections

Department of Economics, Article