This paper applies an economic model of climate change that is based on endogenous substitution of energy resources to determine the effect of advances in renewable technology on aggregate and sectoral fossil fuel use and energy prices. It uses a Nordhaus type partial equilibrium model of the...

Many countries have actively encouraged the production of biofuels as a low-carbon alternative to the use of fossil fuels in transportation. To what extent do these trends imply a reallocation of scarce land away from food to fuel production? This paper critically reviews the small but growing...