This paper analyzes the effects of technological risk on long–run growth when labor supply is elastic and production gives rise to a pollution externality. For the social planner as well as for the market economy we show that the randomness of production as well as the endogeneity of labor...

We analyse long-term consumption paths in a dynamic two-sector economy with overlapping generations. Each young generation saves for the retirement age, both with private savings and pension funds. The productivity of each sector can be raised by sector-specific research, while the essential use...

The paper analyzes resource policies in an economy in which renewable and fossil resources are realistically assumed to be essential inputs to production. Also realistically, the two types of resources are imperfect substitutes whose degree of substitutability can, however, increase over time....

In our paper we analyse the prospects for sustainable growth offered by recycling promoting environmental policies where the main objective of the government is to assure for sustainability in the sense of a non deteriorating state of the environment. The environment is important for economic...

In this paper we analyze the dynamic implications of recycling for resource use, the level of economic activity and the long-run development of the economy. In contrast to former approaches, we take explicit account of the circulation of matter in the economy. We consider virgin resources and...

We analyze the long-term dynamics of an economy in which sectors are heterogeneous with respect to the intensity of natural resource use. It is shown that heterogeneity induces technical change to be biased towards resource-intensive sectors. Along the balanced growth path, the sectoral...

It is now generally agreed that the prediction of long-run development has to include natural resource use. To focus on the long run is, however, not equivalent to the use of balanced growth assumptions. It should be kept in mind that reaching a long-run equilibrium might take considerable time....

This paper analyzes the effects of technological risk on long-run growth when labor supply is elastic and production gives rise to a pollution externality. We show that the randomness of production, as well as the endogeneity of labor supply, affects the equilibrium solutions for the social...

Der Umbau des deutschen Energiesystems im Zuge der Energiewende wirkt sich in vielfältiger Weise auf die Ziele des energiepolitischen Zieldreiecks – Wirtschaftlichkeit, Umweltverträglichkeit und Versorgungssicherheit – aus. Diese Auswirkungen werden in der politischen und...