Showing 1 - 10 of 17
We study the optimal control of a pollutant that accumulates with a delay.We find that optimal paths are, in general, non-monotonic and oscillatory, but monotonic if the objective function is additively separable. Hence, using additively separable objective functions as an approximation to a...
Persistent link: https://www.econbiz.de/10003762155
pollution becomes negative in the long run. This, of course, is a highly implausible prediction. The paper at hand examines the … problem of negative pollution by, first, critically discussing two approaches adopted in existing EKC models and, second, by … theoretical problem of negative pollution, but also does well regarding the empirical plausibility of the abatement technology. …
Persistent link: https://www.econbiz.de/10002846274
Production often causes pollution as a by-product. Once environmental degradation becomes too severe, regulation is …-improvements. The model gives an explanation for the inverted U-shaped pollution-income relation found in empirical research for many …
Persistent link: https://www.econbiz.de/10003082488
Within the past ten years, environmental economics has witnessed the development of a theory that has stirred up considerable controversy. The environmental Kuznets hypothesis predicts negative environmental impact first increases with rising income and then decreases. A wealth of indicators...
Persistent link: https://www.econbiz.de/10011787365
Persistent link: https://www.econbiz.de/10011747864
We analyze an economy in which sectors are heterogeneous with respect to the intensity of natural resource use. Long-term dynamics are driven by resource prices, sectoral composition, and directed technical change. We study the balanced growth path and determine stability conditions. Technical...
Persistent link: https://www.econbiz.de/10008746684
We analyze an economy in which sectors are heterogeneous with respect to the intensity of natural resource use. Long-term dynamics are driven by resource prices, sectoral composition, and directed technical change. We study the balanced growth path and determine stability conditions. Technical...
Persistent link: https://www.econbiz.de/10003762230
We analyse long-term consumption paths in a dynamic two-sector economy with overlapping generations. Each young generation saves for the retirement age, both with private savings and pension funds. The productivity of each sector can be raised by sector-specific research while the essential use...
Persistent link: https://www.econbiz.de/10002634021
This paper analyzes overlapping-generations models where natural capital is owned by selfish agents. Transfers in favor of young agents reduce the rate of depletion and increase output growth. It is shown that intergenerational transfers may be preferred to laissez-faire by an indefinite...
Persistent link: https://www.econbiz.de/10003459197
We examine a global refunding scheme for mitigating climate change. Countries pay an initial fee into a global fund that is invested in long-run assets. In each period, part of the fund is distributed among the participating countries in relation to the emission reductions they have achieved in...
Persistent link: https://www.econbiz.de/10009236278