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Dynamic Inefficiency in an Overlapping Generation Economy with Pollution and Health Costs

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Author Info
MARÍA-JOSÉ GUTIÉRREZ

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Abstract

We analyze an overlapping generations model in which pollution arises, in an accumulatively way, from production. Householders do not care directly about the environment, but pollution leads them to incur health costs when they are elderly. We show that the presence of pollution means that the economy more likely to be dynamically inefficient. For these cases we analyze two kinds of tax scheme: one based on production taxes and the other based on capital and wage taxes. We show how to design both schemes to put the economy into the golden rule allocation. We also show that under the production tax scheme young and elderly agents pay less taxes (or receive more transfers) than under the production tax system. Copyright © 2008 Wiley Periodicals, Inc..

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9779.2008.00377.x
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Publisher Info
Article provided by Association for Public Economic Theory in its journal Journal of Public Economic Theory.

Volume (Year): 10 (2008)
Issue (Month): 4 (08)
Pages: 563-594
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Handle: RePEc:bla:jpbect:v:10:y:2008:i:4:p:563-594

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Howarth, Richard B, 1998. " An Overlapping Generations Model of Climate-Economy Interactions," Scandinavian Journal of Economics, Blackwell Publishing, vol. 100(3), pages 575-91, September. [Downloadable!] (restricted)
  2. Reis, Ana Balcao, 2001. "Endogenous Growth and the Possibility of Eliminating Pollution," Journal of Environmental Economics and Management, Elsevier, vol. 42(3), pages 360-373, November. [Downloadable!] (restricted)
  3. Edmond S. Phelps, 1964. "Second Essay on the Golden Rule of Accumulation," Cowles Foundation Discussion Papers 173, Cowles Foundation, Yale University. [Downloadable!]
  4. Solow, Robert M, 1986. " On the Intergenerational Allocation of Natural Resources," Scandinavian Journal of Economics, Blackwell Publishing, vol. 88(1), pages 141-49.
  5. Gangadharan, Lata & Valenzuela, Ma. Rebecca, 2001. "Interrelationships between income, health and the environment: extending the Environmental Kuznets Curve hypothesis," Ecological Economics, Elsevier, vol. 36(3), pages 513-531, March. [Downloadable!] (restricted)
  6. Chao, Hung-po & Peck, Stephen, 2000. "Greenhouse gas abatement: How much? and Who pays?," Resource and Energy Economics, Elsevier, vol. 22(1), pages 1-20, January. [Downloadable!] (restricted)
  7. Bovenberg, A. Lans & Heijdra, Ben J., 1998. "Environmental tax policy and intergenerational distribution," Journal of Public Economics, Elsevier, vol. 67(1), pages 1-24, January. [Downloadable!] (restricted)
  8. Grimaud, Andre, 1999. "Pollution Permits and Sustainable Growth in a Schumpeterian Model," Journal of Environmental Economics and Management, Elsevier, vol. 38(3), pages 249-266, November. [Downloadable!] (restricted)
  9. Roberton C. Williams, 2000. "Environmental Tax Interactions When Pollution Affects Health or Productivity," NBER Working Papers 8049, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Jouvet, Pierre-Andre & Michel, Philippe & Vidal, Jean-Pierre, 2000. " Intergenerational Altruism and the Environment," Scandinavian Journal of Economics, Blackwell Publishing, vol. 102(1), pages 135-50, March. [Downloadable!] (restricted)
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  11. Padilla, Emilio, 2002. "Intergenerational equity and sustainability," Ecological Economics, Elsevier, vol. 41(1), pages 69-83, April. [Downloadable!] (restricted)
  12. Quah, Euston & Boon, Tay Liam, 2003. "The economic cost of particulate air pollution on health in Singapore," Journal of Asian Economics, Elsevier, vol. 14(1), pages 73-90, February. [Downloadable!] (restricted)
  13. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1992. "Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data," American Economic Review, American Economic Association, vol. 82(5), pages 1177-98, December. [Downloadable!] (restricted)
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  14. John, A. & Pecchenino, R. & Schimmelpfennig, D. & Schreft, S., 1995. "Short-lived agents and the long-lived environment," Journal of Public Economics, Elsevier, vol. 58(1), pages 127-141, September. [Downloadable!] (restricted)
  15. Boyce, James K. & Klemer, Andrew R. & Templet, Paul H. & Willis, Cleve E., 1999. "Power distribution, the environment, and public health: A state-level analysis," Ecological Economics, Elsevier, vol. 29(1), pages 127-140, April. [Downloadable!] (restricted)
  16. Ono, Tetsuo & Maeda, Yasuo, 2002. "Sustainable development in an aging economy," Environment and Development Economics, Cambridge University Press, vol. 7(01), pages 9-22, February. [Downloadable!]
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  17. John, A & Pecchenino, R, 1994. "An Overlapping Generations Model of Growth and the Environment," Economic Journal, Royal Economic Society, vol. 104(427), pages 1393-1410, November. [Downloadable!] (restricted)
  18. Ono, Tetsuo, 1996. "Optimal tax schemes and the environmental externality," Economics Letters, Elsevier, vol. 53(3), pages 283-289, December. [Downloadable!] (restricted)
  19. Howarth, Richard B & Norgaard, Richard B, 1992. "Environmental Valuation under Sustainable Development," American Economic Review, American Economic Association, vol. 82(2), pages 473-77, May. [Downloadable!] (restricted)
  20. Alberini, Anna & Cropper, Maureen & Fu, Tsu-Tan & Krupnick, Alan & Liu, Jin-Tan & Shaw, Daigee & Harrington, Winston, 1997. "Valuing Health Effects of Air Pollution in Developing Countries: The Case of Taiwan," Journal of Environmental Economics and Management, Elsevier, vol. 34(2), pages 107-126, October. [Downloadable!] (restricted)
  21. Guruswamy Babu, P. & Kavi Kumar, K. S. & Murthy, N. S., 1997. "An overlapping generations model with exhaustible resources and stock pollution," Ecological Economics, Elsevier, vol. 21(1), pages 35-43, April. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Xavier Pautrel, 2009. "Health-enhancing activities and the environment:How competition for resources make the environmental policy beneficial," Working Papers hal-00423323_v1, HAL. [Downloadable!]
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