We present a simple dynamic model to get some key insights about the substitution of renewable for nonrenewable resources in production and the consequences for sustainability. We highlight the role of the elasticity of substitution (technological component) to determine the adjustment of every...

This article focuses on the technological aspect of recycling, its effect on the production set of the economy and the optimal use and substitution of natural resources in production. We provide a framework that enables us to compare the relevance of using renewable resources and recyclable...