A putty-clay model with three factors of production and partly endogenous technical progress

De Economist ◽  
1985 ◽  
Vol 133 (3) ◽  
pp. 327-351 ◽  
Author(s):  
G. M. M. Gelauff ◽  
A. R. M. Wennekers ◽  
A. H. M. De J
Keyword(s):  
Technical Progress ◽  
Clay Model ◽  
Endogenous Technical Progress ◽  
Factors Of Production

Endogenous technical progress in fossil fuel demand: The case of France

1996 ◽  
Vol 18 (2) ◽  
pp. 141-155 ◽  
Author(s):  
Laurence Boone ◽  
Stephen Hall ◽  
David Kemball-Cook
Keyword(s):  
Technical Progress ◽  
Fossil Fuel ◽  
Fuel Demand ◽  
Endogenous Technical Progress

scholarly journals Endogenous Technical Progress in the Theory of Economic Growth

2014 ◽  
Vol 2014 ◽  
pp. 1-5 ◽  
Author(s):  
Vladimir N. Pokrovskii
Keyword(s):  
Economic Growth ◽  
Technical Progress ◽  
Capital Stock ◽  
Production Equipment ◽  
Us Economy ◽  
Production Processes ◽  
The Us ◽  
Endogenous Technical Progress ◽  
Theoretical Results

It is shown that substitutive work, which can be defined as work of production equipment (capital stock) replacing the efforts of workers in production processes, can be considered as a measure of technical progress. The methods of estimation of substitutive work are discussed. The theoretical results are illustrated on the data for the US. economy.

Wealth and Sustainability

2017 ◽  
Author(s):  
Kirk Hamilton ◽  
John Hartwick ◽  
Kirk Hamilton ◽  
John Hartwick
Keyword(s):  
Sustainable Development ◽  
Natural Resources ◽  
Technical Progress ◽  
Economic Activity ◽  
Resource Depletion ◽  
Well Being ◽  
Natural Factors ◽  
Rule Set ◽  
Factors Of Production ◽  
Produced Capital

In 1974, it was a live question whether the exhaustion of natural resources, such as oil, would necessarily lead to the decline of economic activity. Solow showed that constant levels of consumption could be sustained if there is sufficient substitutability between produced and natural factors of production. Hartwick then proved that underpinning this result is a saving rule—set investment in produced capital equal to the value of resource depletion at each point in time. A large literature has shown that a comprehensive measure of the change in real wealth—net saving—plays a central role in determining whether current well-being can be sustained. The current composition of wealth serves to define the policy challenges that countries face in achieving sustainable development. If substitution possibilities are limited between natural and other factors of production, as one might expect, then technical progress is a necessary complement to policies for sustainability.

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