A phase diagram analysis on "The environment and directed technical change"

Kenichiro Ikeshita, Tamotsu Nakamura, Keisuke Osumi

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)

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.

Original languageEnglish
Pages (from-to)968-977
Number of pages10
JournalEconomics Bulletin
Volume35
Issue number2
Publication statusPublished - 2015
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance(all)

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