-driven and the optimal timing of technology switching is determined by welfare maximization. The optimal path exhibits discrete … jumps in endogenous variables: technology switching implies sudden reductions in consumption and output, an increase in the …

-driven and the optimal timing of technology switching is determined by welfare maximization. The optimal path exhibits discrete … jumps in endogenous variables: technology switching implies sudden reductions in consumption and output, an increase in the …

-driven and the optimal timing of technology switching is determined by welfare maximization. The optimal path exhibits discrete … jumps in endogenous variables: technology switching implies sudden reductions in consumption and output, an increase in the …