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Further Results on “An Endogenous Growth Model with Embodied Energy-Saving Technical Change”

Author

Listed:
  • Hakan Yetkiner

    (Department of Economics, Izmir University of Economics)

  • Adrian von Zon

    (Department of Economics, Maastricht University)

Abstract

In this short paper we add a non-renewable resource sector to van Zon and Yetkiner (2003) that extended Romer (1990) by including energy consumption of intermediate goods in a context of endogenous and embodied technical change. Van Zon and Yetkiner (2003) showed that the growth rate depends negatively on the growth of exogenous real energy prices. In this paper, we endogenise the growth rate of real energy prices by introducing a non-renewable resource sector into the model. This allows us to study the comparative statics of the model. We show that changes in technology parameters promote growth, while others disfavour growth.

Suggested Citation

  • Hakan Yetkiner & Adrian von Zon, 2007. "Further Results on “An Endogenous Growth Model with Embodied Energy-Saving Technical Change”," Working Papers 0701, Izmir University of Economics.
    • Handle: RePEc:izm:wpaper:0701
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    File URL: http://eco.ieu.edu.tr/wp-content/wp0701.pdf
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    References listed on IDEAS

    as
    1. van Zon, Adriaan & Yetkiner, I. Hakan, 2003. "An endogenous growth model with embodied energy-saving technical change," Resource and Energy Economics, Elsevier, vol. 25(1), pages 81-103, February.
    2. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    3. Ethier, Wilfred J, 1982. "National and International Returns to Scale in the Modern Theory of International Trade," American Economic Review, American Economic Association, vol. 72(3), pages 389-405, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Ýstemi Berk & Ý. Hakan Yetkiner, 2013. "Energy Prices and Economic Growth: Theory and Evidence in the Long Run," Working Papers 1303, Izmir University of Economics.

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    More about this item

    Keywords

    Endogenous growth; energy-saving technological change; Hotelling’s rule;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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