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      Energy saving technological progress in overlapping generations economies with renewable and non-renewable resources

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      Author
      Fazlıoğlu, B. A.
      Sağlam, H. Ç.
      Date
      2012
      Source Title
      İktisat İşletme ve Finans
      Print ISSN
      1300-610X
      Electronic ISSN
      1308-4658
      Publisher
      Bilgesel Yayıncılık San. ve Tic. Ltd.
      Volume
      27
      Issue
      318
      Pages
      27 - 56
      Language
      English
      Type
      Article
      Item Usage Stats
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      Abstract
      We study the effects of energy saving technological progress and substitution of renewable energy resources with non-renewable resources on natural resource depletion and long run growth. We develop a growth model in two-period overlapping generations framework incorporating the presence of both renewable and non-renewable energy resources and resource augmenting technological progress. We provide an analytical characterization of the balanced growth path and analyze the conditions for the economy to exhibit positive long run growth. Then, we investigate the effects of discount factor, resource augmenting technological progress and intensity of resources in energy production on the depletion rate. We also examine whether the long run growth is sustainable or optimal. Our main finding is that the effect of an increase in the intensity of the renewable resources in producing energy on long run growth is positive. In addition although exhaustible resources are essential in production the economy can be sustained and the balanced growth path is optimal.
      Keywords
      Energy saving technological progress
      Overlapping generations model
      Long-run growth
      Optimality
      Sustainability
      Permalink
      http://hdl.handle.net/11693/48757
      Published Version (Please cite this version)
      https://doi.org/10.3848/iif.2012.318.3436
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      • Department of Economics 649
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