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\Ve consider a discounter stochastic game of common-property capital accumulation with nonsymetric players. bounded Due-period extraction capacities, and a transition law satisfying a general strong convexity condition. We show that the infinite-horizon problem has a Markov-stationary...
Persistent link: https://www.econbiz.de/10005043741
that affect physical and human capital formation, pollution taxes that affect environmental degradation, and regeneration … abatement knowledge relative to pollution. First, either of these two extensions can reverse the prior finding that pollution …. Fourth, we show whether a greater need for public spending leads to greater increases in the distorting tax or pollution tax …
Persistent link: https://www.econbiz.de/10005034913
Vulnerability to reduction of natural capital depends on defensive substitution possibilities that, in turn, are affected by the availability of other productive factors. However in several developing countries asset distribution tends to be highly skewed. Taking into account these elements,...
Persistent link: https://www.econbiz.de/10005449522
We analyze the optimal dynamic scale and structure of a two-sector-economy, where each sector produces one consumption good and ons specific pollutant. Both pollutants accumulate at different rates to stocks which damage the natural environment. This acts as a dynamic driving force for the...
Persistent link: https://www.econbiz.de/10005526866
This paper studies the possibility of nonlinear dynamics in a simple overlapping generations model with the environment - the John-Pecchenino (1994) model. We show that if people's concerns towards greener preferences and the maintenance efficiency relative to degradation are not sufficiently...
Persistent link: https://www.econbiz.de/10005753355
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Persistent link: https://www.econbiz.de/10005636043
The way in which natural and physical capital are accumulated, distributed and harnessed underpins the functioning and sustainability of the productive system of each society as well as its social stratification. Significant changes in the interactions between natural and physical capital...
Persistent link: https://www.econbiz.de/10010594464
In this paper we examine the role played by environmental externalities in shaping the dynamics of a small open economy with two sectors (a farming sector and an industrial one), free inter-sectoral labor mobility and heterogeneous agents (workers/farmers and industrial entrepreneurs). We find...
Persistent link: https://www.econbiz.de/10010615430
In the current age of trade and financial openness, local economies in developing countries are becoming increasingly exposed to external investments. The objective of the proposed two-sector model with environmental externalities is to provide an insight into the interaction between external...
Persistent link: https://www.econbiz.de/10008674328