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The Dynamic Behaviour of an Endogenous Growth Model with Public Capital and Pollution

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Author Info
Alfred Greiner (Bielefeld University, Germany)
Abstract

In this paper we present an endogenous growth model with environmental pollution and public capital. As to pollution we assume that it is a by-product of aggregate production and that it negatively affects utility of the household but not production possibilities directly. The paper studies the dynamics of the model and demonstrates that there exists either a unique balanced growth path which is a saddle point or there exist two balanced growth paths with one being locally saddle point stable and one being asymptotically stable.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Studies in Nonlinear Dynamics & Econometrics.

Volume (Year): 11 (2007)
Issue (Month): 2 ()
Pages: 1375-1375
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Handle: RePEc:bep:sndecm:11:2007:2:1375-1375

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Related research
Keywords: public capital environmental pollution endogenous growth indeterminacy dynamics

References listed on IDEAS
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  1. Benhabib Jess & Farmer Roger E. A., 1994. "Indeterminacy and Increasing Returns," Journal of Economic Theory, Elsevier, vol. 63(1), pages 19-41, June. [Downloadable!] (restricted)
    Other versions:
  2. Byrne, Margaret M., 1997. "Is growth a dirty word? Pollution, abatement and endogenous growth," Journal of Development Economics, Elsevier, vol. 54(2), pages 261-284, December. [Downloadable!] (restricted)
  3. Koskela, Erkki & Ollikainen, Markku & Puhakka, Mikko, 2000. "Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  4. Futagami, Koichi & Morita, Yuichi & Shibata, Akihisa, 1993. " Dynamic Analysis of an Endogenous Growth Model with Public Capital," Scandinavian Journal of Economics, Blackwell Publishing, vol. 95(4), pages 607-25, December.
  5. Ligthart, Jenny E. & van der Ploeg, Frederick, 1994. "Pollution, the cost of public funds and endogenous growth," Economics Letters, Elsevier, vol. 46(4), pages 339-349, December. [Downloadable!] (restricted)
  6. Erkki Koskela & Markku Ollikainen & Mikko Puhakka, 2000. "Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource," Econometric Society World Congress 2000 Contributed Papers 1810, Econometric Society. [Downloadable!]
  7. Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June. [Downloadable!] (restricted)
  8. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S103-26, October. [Downloadable!] (restricted)
    Other versions:
  9. Lans Bovenberg, A. & de Mooij, Ruud A., 1997. "Environmental tax reform and endogenous growth," Journal of Public Economics, Elsevier, vol. 63(2), pages 207-237, January. [Downloadable!] (restricted)
  10. Lans Bovenberg, A. & Smulders, Sjak, 1995. "Environmental quality and pollution-augmenting technological change in a two-sector endogenous growth model," Journal of Public Economics, Elsevier, vol. 57(3), pages 369-391, July. [Downloadable!] (restricted)
  11. Koskela, E. & Ollikainen, M. & Puhakka, M., 2000. "Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource," University of Helsinki, Department of Economics 476, Department of Economics.
  12. Frank Hettich, 1998. "Growth effects of a revenue-neutral environmental tax reform," Journal of Economics, Springer, vol. 67(3), pages 287-316, October. [Downloadable!] (restricted)
  13. Alfred Greiner, 2003. "On the dynamics of an endogenous growth model with learning by doing," Economic Theory, Springer, vol. 21(1), pages 205-214, 01. [Downloadable!] (restricted)
  14. Levhari, David & Liviatan, Nissan, 1972. "On stability in the saddle-point sense," Journal of Economic Theory, Elsevier, vol. 4(1), pages 88-93, February. [Downloadable!] (restricted)
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