| 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. |
