Conflicts between optimality and sustainability are typical in the literature on sustainable development. Using the ‘‘capital-resource’’ growth model, Pezzey and Withagen (1998, Scandinavian Journal of Economics 100 (2), 513–527) have proved that if natural resources are exhaustible, the time-path of consumption is single-peaked, declining from some point in time onwards. This paper extends the...

Forecasting technological progress is of great interest to engineers, policy makers, and private investors. Several models have been proposed for predicting technological improvement, but how well do these models perform? An early hypothesis made by Theodore Wright in 1936 is that cost decreases as a power law of cumulative production. An alternative hypothesis is Moore's law, which can be gene...

This paper explores growth models for regions or countries which are highly interdependent, but which may differ in initial factor endowments and technology. The regions interact through trade, factor mobility and the diffusion of innovations. The implications of traditional and recent growth theories for an explicit two-region situation are identified and the properties of the growth process a...

We rst provide an empirical study of the energy-saving technological progress on the ENERDATA database. Energy intensity is shown to decrease over the period 1971-1999 in OECD countries, indicating a signi cant energy-saving technical progress trend. We also show via semi-parametric partially linear estimations that: (i) this trend is positively correlated with the investment rate, and (ii) the...

Our objective is to study, in a labor market characterized by search frictions, the effects of technological progress on the average quality of the job matches. We will see as results that the effects of technological progress on the labor market depend upon the initial conditions of the economy. If the economy is totally characterized by the presence of low-quality job matches, an increase in ...

This paper combines technology adoption with capital accumulation taking into account technological progress. We model this as a multi-stage optimal control problem and solve it using the corresponding maximum principle. The model with linear revenue can be solved analytically, while the model with market power is solved numerically. We obtain that investment jumps upwards right at the moment t...

This paper takes Tianjin for example and analyzes the development tend of scientific and technological progress in Tianjin. From five aspects as ‘environment of scientific and technological progress’, ‘input of scientific and technological activities’, ‘output of scientific and technological activities’, ‘high-tech industrialization’, ‘science and technology for economic and social development’...

Advances in artificial intelligence and automation have the potential to be labor-saving increase inequality poverty around globe. They also give rise winner-takes-all dynamics that advantage highly skilled individuals countries are at forefront of technological progress. We analyze economic forces behind these developments delineate domestic policies mitigate adverse effects while leveraging g...