Optimal abatement in dynamic multi-pollutant problems when pollutants can be complements or substitutes
AbstractWe analyze a dynamic multi-pollutant problem where abatement costs of several pollutants are not separable. The pollutants can be either technological substitutes or complements. Environmental damage is induced by the stock of accumulated pollution. We find that optimal emission paths are qualitatively different for substitutes and complements. We derive general properties governing optimal emission paths and present numerical examples to illustrate our main results. In particular we find that optimal emission paths need not be monotonic, even for highly symmetric pollutants. Finally, we describe a comparatively simple method to implement the optimal path without explicitly knowing its shape. --
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 31 (2007)
Issue (Month): 7 (July)
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Web page: http://www.elsevier.com/locate/jedc
Other versions of this item:
- Moslener, Ulf & Requate, Till, 2005. "Optimal Abatement in Dynamic Multipollutant Problems when Pollutants can be Complements or Substitutes," Economics Working Papers 2005,03, Christian-Albrechts-University of Kiel, Department of Economics.
- Moslener, Ulf & Requate, Till, 2005. "Optimal Abatement in Dynamic Multi-Pollutant Problems When Pollutants can be Complements or Substitutes," ZEW Discussion Papers 05-27, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- L5 - Industrial Organization - - Regulation and Industrial Policy
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
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