|Title:||Models of directed technical change||Language:||English||Authors:||Grames, Johanna||Qualification level:||Diploma||Advisor:||Fuernkranz-Prskawetz, Alexia||Issue Date:||2013||Number of Pages:||96||Qualification level:||Diploma||Abstract:||
In macroeconomic growth models technology is often exogenous or endogenously described with simple dynamics. The diploma thesis analyses the dynamics, but also the direction and the bias of technical change. The basic framework introduced by Acemoglu, (2002) is a two-sector model. Each sector uses different technologies. If the economy is switching from the technology in one sector to the other, we face directed technical change. The reasons and the policies to direct technical change are discussed for the basic model of Acemoglu, (2002). Further extensions that also include the dynamics of environment and population are introduced afterwards. The main focus is the quality of environment. What happens, if one sector needs natural resources to produce its goods? Which policies can be set to attract researchers to invest in sustainable technologies? The paper of Acemoglu, Aghion, Burstyn and Hemous, (2012) describes scenarios with renewable and exhoustible natural ressources. This paper also introduces different aspects of technical change and environment: Is economic growth still possible, if the production of the consumption good always affects the environment negatively, even if there exists a second production sector that decreases pollution of the first sector and increases the regeneration rate of the environment? A more complex model of directed technical change is based on the work of Schaefer, (2012). Additional to the factor environment it includes population dynamics and works with two different types of households - skilled and unskilled. As a result, the educational choice of parents for their offspring plays a crucial role to direct technical change. The diploma thesis describes and compares these four different models of directed technical change.
|Library ID:||AC11053197||Organisation:||E105 - Institut für Wirtschaftsmathematik||Publication Type:||Thesis
|Appears in Collections:||Thesis|
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checked on Jun 20, 2021
checked on Jun 20, 2021
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