We study a two-phase endogenous growth model in which the adoption of a backstop technology (e.g. solar) yields a sustained supply of essential energy inputs previously obtained from exhaustible resources (e.g. oil). Growth is knowledge-driven and the optimal timing of technology switching is...

This paper studies the effects of distortionary taxes and public investment in an endogenous growth OLG model with knowledge trans- mission. Fiscal policy affects growth in two respects: first, work time reacts to variations of prospective tax rates and modifies knowledge formation; second,...

This paper extends the 'expanding-varieties' growth model in a two-countries-two-goods setup, and describes the dynamics of growth rates and terms of trade when the industry-based economy is the innovation leader, while the tourism-based economy is the follower (i.e. increases the number of...

We analyze a multi-sector growth model with directed technical change where man-made capital and exhaustible resources are essential for production. The relative profitability of factor-specific innovations endogenously determines whether technical progress will be capital- or...

This paper studies the effects of distortionary taxes and public in- vestment in an endogenous growth OLG model with knowledge trans- mission. Fiscal policy affects growth in two respects: .rst, work time reacts to variations of prospective tax rates and modi.es knowledge formation; second,...

We study a two-phase endogenous growth model in which the adoption of a backstop technology (e.g. solar) yields a sustained supply of essential energy inputs previously obtained from exhaustible resources (e.g. oil). Growth is knowledge-driven and the optimal timing of technology switching is...

This paper extends the ’expanding-varieties’ growth model in a two-countries-two-goods setup, and describes the dynamics of growth rates and terms of trade when the industry-based economy is the innovation leader, while the tourism-based economy is the follower (i.e. increases the number of...

We analyze the general-equilibrium e§ects of alternative regimes of access rights over renewable natural resources ñnamely, open access versus full property rights ñon the pace of development when economic growth is endogenously driven by both horizontal and vertical innovations. Resource...

The aggregate income of oil-exporting countries relative to that of oil-poor countries has been remarkably constant in recent decades, despite the existence of structural gaps in productivity growth rates. This stylized fact is rationalized in an endogenous growth model of asymmetric trade where...

This paper studies an endogenous growth model with exhaustible resources, overlapping generations and human capital externalities. In the competitive equilibrium, selfish behavior and inefficient skills accumulation may prevent sustained growth. Implementing the utilitarian optimum likely...