The Fossile Episode

Preprint OPEN
Hassler, John; Sinn, Hans-Werner;
  • Subject: biocarbon; climate change; fossil fuel
    • jel: jel:O41 | jel:Q32 | jel:Q54

We build a two-sector dynamic general equilibrium model with one-sided substitutability between fossil carbon and biocarbon. One shock only, the discovery of the technology to use fossil fuels, leads to a transition from an inital pre-industrial phase to three following... View more
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