Does the climate challenge justify degrowth?
通过构建内生增长模型，研究在考虑气候损害时，去增长是否合理，发现化石资源丰富且化石研究效率低时，初始去增长阶段更可能，但长期最优增长仍为正。
Degrowth is often advocated as a response to the climate crisis, but its consistency with growth theory remains unclear. We develop an endogenous growth model of directed technical change and climate in which the economy relies on both a polluting fossil resource and a clean renewable alternative. We fully characterize the social optimum and show that accounting for climate damages may justify an initial phase of degrowth. Such a phase is more likely when fossil resources are abundant and fossil-oriented research is relatively inefficient. In all cases, long-run optimal growth remains positive.