Capital Accumulation and Non-Renewable Energy Resources: A Special Functions Case

CORE Discussion Paper No. 2007/9

55 Pages Posted: 22 Mar 2007

See all articles by Agustin Perez Barahona

Agustin Perez Barahona

Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE)

Date Written: February 2007

Abstract

In this paper, we study the implications of assuming different technologies for physical capital accumulation and consumption. More precisely, we assume that physical capital accumulation is relatively more energy-intensive than consumption. We conclude that this hypothesis, together with the possibility of technical progress (in particular, energy-saving technical progress), has important implications on economic growth. This model entails some technical difficulties. However, we provide a full analytical characterization of both short and long-run dynamics using Gauss Hypergeometric functions.

Keywords: Non-renewable resources, Energy-saving technical progress, Special functions

JEL Classification: C68, O30, O41, Q30, Q43

Suggested Citation

Perez Barahona, Agustin, Capital Accumulation and Non-Renewable Energy Resources: A Special Functions Case (February 2007). CORE Discussion Paper No. 2007/9. Available at SSRN: https://ssrn.com/abstract=975081 or http://dx.doi.org/10.2139/ssrn.975081

Agustin Perez Barahona (Contact Author)

Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE) ( email )

34 Voie du Roman Pays
B-1348 Louvain-la-Neuve, b-1348
Belgium

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