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A phase diagram analysis on “The Environment and Directed Technical Change

Author

Listed:
  • Kenichiro Ikeshita

    (Kanazawa University)

  • Tamotsu Nakamura

    (Kobe University)

  • Keisuke Osumi

    (Fukuoka Women''s University)

Abstract

Analyzing a dynamic general equilibrium model that incorporates endogenous and directed technical change and environmental constraints, Acemoglu et al. (2012) present thought-provoking discussions on green growth and environmental disaster. For the clarity of argument, they place a restriction on the initial technology levels (Assumption 1). By means of the phase diagram, this note shows that without the assumption the same arguments can be extended. In other words, their results remain valid in the wide range of the initial technology levels. Also, it is shown that there exists a threshold of the relative technology level, which determines the future of the environment: disaster or restoration.

Suggested Citation

  • Kenichiro Ikeshita & Tamotsu Nakamura & Keisuke Osumi, 2015. "A phase diagram analysis on “The Environment and Directed Technical Change," Economics Bulletin, AccessEcon, vol. 35(2), pages 968-977.
    • Handle: RePEc:ebl:ecbull:eb-14-00976
    as

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    References listed on IDEAS

    as
    1. Daron Acemoglu, 1998. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(4), pages 1055-1089.
    2. Lawrence H. Goulder, 2013. "Markets for Pollution Allowances: What Are the (New) Lessons?," Journal of Economic Perspectives, American Economic Association, vol. 27(1), pages 87-102, Winter.
    3. World Bank, 2012. "Inclusive Green Growth : The Pathway to Sustainable Development," World Bank Publications - Books, The World Bank Group, number 6058.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Wenhan Ren & Jing Ni & Wen Jiao & Yan Li, 2023. "Explore the key factors of sustainable development: A bibliometric and visual analysis of technological progress," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(1), pages 492-509, February.

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    More about this item

    Keywords

    Directed technical change; Environmental disaster; Environmental restoration; Knife-edge dynamics;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation

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