TY - JOUR
T1 - Nuclear Energy, Economic Growth, and the Environment
T2 - Optimal Policies in a Model with Endogenous Technical Change and Environmental Constraints
AU - Fatouros, Nikos
AU - Stengos, Thanasis
PY - 2023/11
Y1 - 2023/11
N2 - We use a model of endogenous growth with vertical innovations, in order to derive optimal energy policy under uncertainty. Innovation can be directed to dirty, green, or nuclear technologies, which in turn can be used to produce different types of energy. We show that, nuclear energy usage, is not only a necessary welfare maximizing condition, but also a crucial determinant of economic growth in the long run. Lastly, we find no evidence supporting the traditional Environmental Kuznets Curve hypothesis under optimal policy implementation.
AB - We use a model of endogenous growth with vertical innovations, in order to derive optimal energy policy under uncertainty. Innovation can be directed to dirty, green, or nuclear technologies, which in turn can be used to produce different types of energy. We show that, nuclear energy usage, is not only a necessary welfare maximizing condition, but also a crucial determinant of economic growth in the long run. Lastly, we find no evidence supporting the traditional Environmental Kuznets Curve hypothesis under optimal policy implementation.
U2 - 10.1016/j.jeca.2023.e00325
DO - 10.1016/j.jeca.2023.e00325
M3 - Article
VL - 28
JO - The Journal of Economic Asymmetries
JF - The Journal of Economic Asymmetries
M1 - e00325
ER -
