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Abstract

This paper employs an overlapping-generations model to explore the impactof public abatement on private investment and the intergenerationaldistribution of welfare. Whereas public abatement benefits the oldestgenerations in terms of non-environmental welfare, future generations gainmost in terms of environment welfare. The overall benefits tend to besmallest for generations born at the time of the unanticipated policy shock.Public debt policy, however, can be employed to ensure that welfare gainsare distributed more equally across the various generations. Such a policyimplies that natural capital crowds-out man-made capital. Copyright Kluwer Academic Publishers 2002

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File URL: http://hdl.handle.net/10.1023/A:1020236812676
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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 23 (2002)
Issue (Month): 1 (September)
Pages: 45-84

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Handle: RePEc:kap:enreec:v:23:y:2002:i:1:p:45-84

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: debt policy; intergenerational welfare effects; overlapping generations; public environmental abatement;

Other versions of this item:

Find related papers by JEL classification:

• D60 - Microeconomics - - Welfare Economics - - - General
• H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
• H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
• Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

References

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Citations

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Cited by:

1. Fisher, Walter H. & Heijdra, Ben J., 2007. "Keeping up with the Ageing Joneses," Economics Series 204, Institute for Advanced Studies.
   
   • Fisher, Walter H. & Heijdra, Ben J., 2009. "Keeping up with the ageing Joneses," Journal of Economic Dynamics and Control, Elsevier, vol. 33(1), pages 53-64, January.
2. Ben J. Heijdra & Pim Heijnen, 2009. "Environmental Policy and the Macroeconomy under Shallow-Lake Dynamics," CESifo Working Paper Series 2859, CESifo Group Munich.
3. Xavier Pautrel, 2008. "Environmental Policy, Education and Growth: A Reappraisal when Lifetime Is Finite," Working Papers 2008.57, Fondazione Eni Enrico Mattei.
   
   • Pautrel, Xavier, 2012. "Environmental Policy, Education And Growth: A Reappraisal When Lifetime Is Finite," Macroeconomic Dynamics, Cambridge University Press, vol. 16(05), pages 661-685, November.
   • Xavier Pautrel, 2009. "Environmental policy, education and growth: A reappraisal when lifetime is finite," Working Papers hal-00423201, HAL.
4. Kavuncu, Y. Okan & Knabb, Shawn D., 2005. "Stabilizing greenhouse gas emissions: Assessing the intergenerational costs and benefits of the Kyoto Protocol," Energy Economics, Elsevier, vol. 27(3), pages 369-386, May.

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