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subsequently extend the baseline model by adding climate-induced fluctuations around the growth trend and stock-pollution effects …
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baseline model by adding climate-induced fluctuations around the growth trend and stock-pollution effects, demonstrating …
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resources which cause greenhouse gas emissions; pollution stock harms capital and reduces economic growth. We find a big effect … robustness of the results by adding pollution decay and lowering the elasticity of intertemporal substitution which does not …
Persistent link: https://www.econbiz.de/10012946363
We analyze an economy in which sectors are heterogeneous with respect to the intensity of natural resource use. Long-term dynamics are driven by resource prices, sectoral composition, and directed technical change. We study the balanced growth path and determine stability conditions. Technical...
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