A comparative study of energy saving technical progress in a vintage capital model |
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| Affiliation: | 1. CORE – Chair Lhoist Berghmans in Environmental Economics and Management, Université catholique de Louvain, 34 voie du Roman Pays, B-1348 Louvain-la-Neuve, Belgium.;2. IMW, Bielefeld University, 33501 Bielefeld, Germany |
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| Abstract: | We analyze the hypothesis about the effectiveness of energy saving technologies to reduce the trade-off between economic growth and energy preservation. In a general equilibrium vintage capital model with embodied energy saving technical progress, we show that positive growth is only possible if the growth rate of the energy saving technical progress exceeds the decreasing rate of the energy supply. |
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