Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2019.01.012 |
Georgescu-Roegen versus Solow/Stiglitz: Back to a controversy | |
Germain, Marc1,2 | |
2019-06-01 | |
发表期刊 | ECOLOGICAL ECONOMICS
![]() |
ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2019 |
卷号 | 160页码:168-182 |
文章类型 | Article |
语种 | 英语 |
国家 | France; Belgium |
英文摘要 | Within the framework of an optimal growth model with a non renewable resource, this paper seeks to answer the question of whether a production function that ignores the constraints of physics on the production process (such as the Cobb-Douglas) can generate a good medium-term approximation of the trajectory of the economy obtained with a "true" production function, which takes these constraints into account. Two functions that respect these constraints are considered: (i) the CES function and (ii) a function called ATF, designed specifically for the purposes of this paper and which has the property of being closer to the Cobb-Douglas than is the CES. The approximation generated by the Cobb-Douglas can be rough, at least for some variables. When the "true" production function is the CES, this is explained by two effects: (i) the difference in technologies and (ii) the fact that the Cobb-Douglas totally changes the long-term path of the economy compared to that induced by the CES. In the case of the ATF, only the second effect acts. If accuracy is a concern, then whatever the "true" function the obtained results do not argue in favour of a positive answer to the above question. The Cobb-Douglas is only acceptable when the constraints of physics act weakly, which unfortunately is not always empirically verified (especially in the case of energy). If accuracy is not the first concern, then the answer seems positive, to the extent that the medium term paths generated by the Cobb-Douglas and the "true" function have a similar shape and the orders of magnitude are preserved. |
英文关键词 | Optimal growth Production function Exhaustible resource |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000466260300016 |
WOS关键词 | ENERGY ; INPUTS |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/183550 |
专题 | 资源环境科学 |
作者单位 | 1.Univ Lille, CNRS, UMR 9221, LEM, Lille, France; 2.Univ Louvain, IRES, Ottignies, Belgium |
推荐引用方式 GB/T 7714 | Germain, Marc. Georgescu-Roegen versus Solow/Stiglitz: Back to a controversy[J]. ECOLOGICAL ECONOMICS,2019,160:168-182. |
APA | Germain, Marc.(2019).Georgescu-Roegen versus Solow/Stiglitz: Back to a controversy.ECOLOGICAL ECONOMICS,160,168-182. |
MLA | Germain, Marc."Georgescu-Roegen versus Solow/Stiglitz: Back to a controversy".ECOLOGICAL ECONOMICS 160(2019):168-182. |
条目包含的文件 | 条目无相关文件。 |
个性服务 |
推荐该条目 |
保存到收藏夹 |
查看访问统计 |
导出为Endnote文件 |
谷歌学术 |
谷歌学术中相似的文章 |
[Germain, Marc]的文章 |
百度学术 |
百度学术中相似的文章 |
[Germain, Marc]的文章 |
必应学术 |
必应学术中相似的文章 |
[Germain, Marc]的文章 |
相关权益政策 |
暂无数据 |
收藏/分享 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。
修改评论