In the past 20 years the European Union has been working continually to promote green energy. Renewable energy has a number of social, economic and environmental benefits. A major advantage of using renewable energy is that it has a low environmental impact, therefore, can support growth on a...

This paper analyzes overlapping-generations models where natural capital is owned by selfish agents. Transfers in favor of young agents reduce the rate of depletion and increase output growth. It is shown that intergenerational transfers may be preferred to laissez-faire by an indefinite...