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Energy and Physical Capital: A Case of Non-classical Dynamics

Show simple item record Fazlıoğlu, Burcu Afyonoğlu Perez-Barahona, Agustin Sağlam, Çağrı 2019-12-26T14:47:34Z 2019-12-26T14:47:34Z 2019
dc.identifier.citation Fazlıoğlu, B. A., Pérez-Barahona, A., & Sağlam, Ç. (2019). Energy and Physical Capital: A Case of Non-classical Dynamics. Environmental and Resource Economics, 72(4), 1003-1022. en_US
dc.identifier.issn 0924-6460
dc.identifier.uri 10.1007/s10640-018-0236-x
dc.description.abstract We study the importance of considering different energy requirements for physical capital and final good production in an overlapping generations (OLG) resource economy. In contrast to the standard OLG framework, but consistently with the empirical evidence, we assume that the accumulation of physical capital requires more energy than the production of consumption goods. Focusing on exhaustible energy resources, we find that OLG equilibria can exhibit non-classical dynamics: the economy generates complex dynamics where, differing from the response predicted by the standard approach, resource prices may not increase monotonically. This result illustrates that the technological assumptions behind the energy inputs should be taken with caution, in particular on dynamic analyses involving exhaustible energy resources. en_US
dc.description.sponsorship Chaire Developpement Durable (Ecole Polytechnique - EDF); Labex MME-DII
dc.language.iso eng en_US
dc.publisher Springer Netherlands en_US
dc.rights info:eu-repo/semantics/closedAccess
dc.subject Exhaustible energy resources en_US
dc.subject economic dynamics en_US
dc.subject overlapping generations en_US
dc.title Energy and Physical Capital: A Case of Non-classical Dynamics en_US
dc.type article en_US
dc.relation.journal Environmental and Resource Economics en_US
dc.contributor.department TOBB ETU, Faculty of Economics and Administrative Sciences, International Entrepreneurship en_US
dc.contributor.department TOBB ETÜ, İktisadi ve İdari Bilimler Fakültesi, Uluslararası Girişimcilik Bölümü tr_TR
dc.identifier.volume 72
dc.identifier.issue 4
dc.identifier.startpage 1003
dc.identifier.endpage 1022
dc.contributor.orcid Saglam, Cagri/0000-0002-7123-9575
dc.identifier.scopus 2-s2.0-85044447647
dc.contributor.tobbetuauthor Fazlıoğlu, Burcu Afyonoğlu
dc.contributor.YOKid 192932
dc.identifier.doi 10.1007/s10640-018-0236-x
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı tr_TR

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