SINGULAR GROWTH IN AN INTEGRATED ASSESSMENT MODEL BASED ON A MODIFICATION OF THE SOLOW MODEL
A modified version of the Solow model with endogenous technical progress is considered that exerts “explosive”, singular growth. A formula for the point of time of singularity is derived. The model is “upgraded” to a climate-economy model (an Integrated Assessment model) describing the growth of the world economy under conditions of global climate change. A non-trivial stationary solution of the model is obtained. It is shown that this solution is unstable, and that the developed model manifests “explosive growth” like the initial modification of the Solow model.