In this paper, we consider an economy having access to two different energy sources. The first one is coming from natural polluting resources; and second one is coming from a backstop natural resource. There are two productive sectors in the economy. The first one is dedicated to manufacturing...

This paper extends the standard neoclassical model by considering a technology sector through which an economy with limited human capital attempts to catch up with a given "locomotive" pushing exogenously technical progress. In periods of technological stagnation, economies close enough to the...

This paper develops a theory of optimal fertility behavior under mortality shocks. In an OLG model, young adults determine their optimal fertility, labor supply and life-cycle consumption with both exogenous child and adult mortality risks. We show that a rise in adult mortality exerts an...