Qualitative change is widely recognised as a defining feature of evolution. Schumpeter and Georgescu-Roegen put it at the centre of their methodological reasoning. I revisit important contributions of these two authors, paying attention to the immediate relationship of the major traits and...

Qualitative change is widely recognized as a defining feature of evolution. Schumpeter and Georgescu-Roegen put it at the center of their methodological reasoning. I revisit important contributions of these two authors, paying attention to the immediate relationship of the major traits and...

The statistical relationship among future changes in consumption can be used to derive, under certain assumptions on investor preferences, an unambiguous effect on the term structure of discount rates. Thus, an increase in concordance in uncertain consumption growth has a negative impact on the...

For the 2014-2020 phase of the Common Agricultural Policy, the European Commission has the opportunity to reduce the leakage of public support to landowners and to better target it towards active farmers. Our purpose is to assess whether shifting the basis of direct payments from land towards...

We study the welfare-theoretic consequences of diverging social and private time-preference rates and time-to-build for the transition to a low-carbon energy industry. We show that time-to-build, a prevalent characteristic of capital accumulation in the energy sector, amplifies the distortion...

In a dynamic general equilibrium model we study the interplay between gradual and structural change in the transition to a low-carbon energy industry. We focus on the welfare-theoretic consequences of diverging social and private rates of time preference and a time-to-build feature in capital...

We develop a general equilibrium model to study the transition from an established polluting to a new clean energy technology. Therefore, we consider two distinctive features: (i) the creation of new productive capital exhibits a timeto-build property, and (ii) the social and individual rates of...

Despite the frequent references to Schumpeter's work, his own encompassing methodological approach as worked out by Shionoya (1997) has hardly been considered. In this paper, it is revisited together with Georgescu-Roegen's contributions to economic methodology in view of (i) their contribution...

For power-plant investments, utilities rely after liberalisation on private financial markets, which are in general distorted. The (related) split of social and private time-preference rates provides a new reason for a welfare-enhancing policy intervention, complementary to environmental policy...