Showing 1 - 10 of 107
In this paper, we extend the well known result that hyperbolically discounting agents tend to postpone costs into the future. In a simple model we show that, without commitment to the ex ante optimal plan, no investment in environmental protection is undertaken over the whole time horizon, no...
Persistent link: https://www.econbiz.de/10011753124
potential explana- tion of an N-shaped pollution-income relation. Finally, it is shown that the model is compatible with most …
Persistent link: https://www.econbiz.de/10011753098
that 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, ¯rst, critically discussing two approaches adopted in existing EKC models and … the theo- retical problem of negative pollution, but also does well regarding the empirical plausibility of the abatement …
Persistent link: https://www.econbiz.de/10011753104
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/10011753155
The interaction between habit formation and pollution-type ex- ternalities modifies the social optimum through discount …
Persistent link: https://www.econbiz.de/10011753113
Environmental pollution adversely affects children’s probability to survive to adulthood, reduces thus parental … inequality and pollution on children’s health may be amplified, if the population group that is least affected decides about tax …-financed abatement measures. Our theory provides a candidate explanation for (1) the observed positive correlation between inequality and …
Persistent link: https://www.econbiz.de/10011753305
In this paper we assess whether forward guidance for monetary policy regarding the future path of interest rates is desirable. We distinguish between two cases where forward guidance for monetary policy may be helpful. First, forward guidance may reveal private information of the central bank....
Persistent link: https://www.econbiz.de/10011753148
Production often causes pollution as a by-product. Once environmental degra- dation 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/10011753107
We design a global refunding scheme as a new international approach to address climate change. A global refunding system allows each country to set its carbon emission tax, while aggregate tax revenues are partially refunded to member countries in proportion to the relative emission reductions...
Persistent link: https://www.econbiz.de/10011753133
In a dynamic general equilibrium model we study the interplay between gradual and structural change in the transition to a low-carbon energy industry. We focus on the welfare-theoretic consequences of diverging social and private rates of time preference and a time-to-build feature in capital...
Persistent link: https://www.econbiz.de/10011753135