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Endogenous Technical Progress in a Vintage Type Model of CO2 Emissions

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Title: Endogenous Technical Progress in a Vintage Type Model of CO2 Emissions
Authors: Gottinger, Hans W.
Issue Date: 25-Mar-1998
Publisher: 長崎大学経済学会
Citation: 経営と経済, 77(4), pp.27-44; 1998
Abstract: A vintage model of technical progress is introduced in which fossil energy input required by a piece of capital is determined by the year in which it is purchased and cannot be changed after the capital is in place. A major outcome of such a model is that the long run pattern of technical progress is neutral with respect to the inputs, if energy use is proportional to output, prices are stable, and the research budget is constant or expoentially increasing. However, if CO2 causes increases in the price of fossil fuels, through consideration of the shadow price or taxes, research will be induced to concentrate on energy because such research allows substitution away from energy.
URI: http://hdl.handle.net/10069/29105
ISSN: 02869101
Type: Departmental Bulletin Paper
Text Version: publisher
Appears in Collections:Volume 77 No. 4

Citable URI : http://hdl.handle.net/10069/29105

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