Borissov, Kirill; Shakhnov, Kirill - In: Economic Modelling 28 (2011) 4, pp. 2071-2074
In an important model of growth and pollution proposed by Stokey [Int. Econ. Rev. 39 (1998) 1] neither the rate of economic growth nor the rate of growth of emissions depends on the time preference of the representative agent, which seems somewhat paradoxical. To resolve this paradox, we...