Ressources non-renouvelables, impatience et effort optimal de recherche-développement

Abstract

On montre comment la contrainte d’épuisement des ressources non renouvelables sur laquelle risque de buter infinele maintien d’un niveau minimal de consommation, peut être levée grâce à un effort d’investissement adapté. Mais cet effort, initialement assez intense dans certains cas, ne doit être consenti que si la productivité dans le secteur de la recherche est suffisamment élevée au regard de l’impatience. On montre que, dans le cas d’une préférence marquée pour le présent, la société choisit une trajectoire de recherche initialement trop timide, de sorte qu’à terme, la consommation est inéluctablement amenée à régresser.

Resource-augmenting R&D with heterogeneous labor supply

“…the optimal steady state is similar to that found assuming that labor is perfectly substitutable between production and R&D, see Amigues et al, 2004a). We find that the ELPF plays a crucial role in determining the socially optimal trajectory of the economy, but that it is not significant in the long run (i.e.…”

“…The result according to which R&D effort is an increasing function of the rate of preference for the present was already found by Amigues et al (2004a). to what extent steady state R&D employment determines the level of effective labor in production via the exogenous relationshipl(ρ/b).…”

“…in Amigues et al, 2004a;Amigues et al, 2004b) is that the law of motion of the R&D employment n, equation (15), depends on both σ (n) and η(n), which measure the concavity of the frontier. What was not visible under the assumption of a linear ELPF (e.g.…”

“…5;Amigues et al, 2004a;Amigues et al, 2004b;Tsur and Zemel, 2005). On the other hand, well-established wisdom in natural resource economics suggests that overcoming the constraint imposed by the scarcity of natural resources on future production requires appropriate investment in R&D targeted at resource-augmenting technological progress (e.g.…”

“…We perform a normative analysis of the strategies of resource exploitation and labor allocation between two possible tasks: production and R&D. This paper builds on previous work by Amigues et al (2004a), Amigues et al (2004b), and Amigues and Moreaux (2004). We perform a normative analysis of the strategies of resource exploitation and labor allocation between two possible tasks: production and R&D. This paper builds on previous work by Amigues et al (2004a), Amigues et al (2004b), and Amigues and Moreaux (2004).…”