TY - JOUR
T1 - A phase diagram analysis on "The environment and directed technical change"
AU - Ikeshita, Kenichiro
AU - Nakamura, Tamotsu
AU - Osumi, Keisuke
N1 - Funding Information:
We would like to thank ananonymous referee whose comments have not onlygreatlyimproved the paper but have also saved us fromtwo critical errors. We are also grateful to Professor Florenz Plassmann, the associate editor of this journal, and participants at the 2014 Annual Conference of Chinese Association of Quantitative Economics for their valuable comments. The financial support of Grants-in-Aid for Scientific Research(C) fromthe JapanSocietyfor the PromotionofScience (Grant Nos. 25380315 and 25380290) is gratefullyacknowledged. The usual disclaimer applies. Citation: Kenichiro Ikeshita and TamotsuNakamura and Keisuke Osumi, (2015) ''A phase diagramanalysis on“The Environment and Directed Technical Change”'', Economics Bulletin, Volume 35, Issue 2, pages 968-977 Contact: Kenichiro Ikeshita - [email protected], Tamotsu Nakamura - [email protected], Keisuke Osumi - [email protected]. Submitted: December 05, 2014. Published: April 22, 2015.
PY - 2015
Y1 - 2015
N2 - 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.
AB - 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.
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M3 - Article
AN - SCOPUS:84929001111
SN - 1545-2921
VL - 35
SP - 968
EP - 977
JO - Economics Bulletin
JF - Economics Bulletin
IS - 2
ER -