Azomahou, Théophile; Boucekkine, Raouf; Nguyen-Van, Phu - United Nations University, Maastricht Economic and … - 2008
We develop a general equilibrium vintage capital model with embodied energy-saving technological progress and an explicit energy market to study the impact of investment subsidies on investment and output. Energy and capital are assumed to be complementary in the production process. New machines...
