Technological vs. Ecological Switch and the Environmental Kuznets Curve
AbstractWe consider an optimal technology adoption AK model in line with Boucekkine Krawczyk and VallÃ©e (2011): an economy, caring about consumption and pollution as well, starts with a given technological regime and may decide to switch at any moment to a cleaner technology at a given permanent or transitory output cost. At the same time, we posit that there exists a pollution threshold above which the assimilation capacity of Nature goes down, featuring a kind of irreversible ecological regime. We study how ecological irreversibility interacts with the ingredients of the latter optimal technological switch problem, with a special attention to induced capital-pollution relationship. We find that if a single technological switch is optimal, one recovers the Environmental Kuznets Curve provided initial pollution is high enough. If exceeding the ecological threshold is optimal, then the latter configuration is far from being the rule.
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Bibliographic InfoArticle provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.
Volume (Year): 95 (2013)
Issue (Month): 2 ()
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- Raouf Boucekkine & Aude Pommeret & Fabien Prieur, 2011. "Technological vs ecological switch and the environmental Kuznets curve," Working Papers halshs-00633024, HAL.
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- Daria Onori, 2013. "Optimal Growth under Flow-Based Collaterals," AMSE Working Papers 1331, Aix-Marseille School of Economics, Marseille, France, revised 21 May 2013.
- Raouf Boucekkine & Aude Pommeret & Fabien Prieur, 2012.
"Optimal Regime Switching and Threshold Effects: Theory and Application to a Resource Extraction Problem under Irreversibility,"
12-14, LAMETA, Universtiy of Montpellier, revised May 2012.
- Raouf Boucekkine & Aude Pommeret & Fabien Prieur, 2012. "Optimal Regime Switching and Threshold Effects: Theory and Application to a Resource Extraction Problem under Irreversibility," Working Papers halshs-00793200, HAL.
- Raouf Boucekkine & Aude Pommeret & Fabien Prieur, 2012. "Optimal regime switching and threshold effects: theory and application to a resource extraction problem under irreversibility," Cahiers de Recherches Economiques du DÃ©partement d'EconomÃ©trie et d'Economie politique (DEEP) 12.02, Université de Lausanne, Faculté des HEC, DEEP.
- Raouf Boucekkine & Aude Pommeret & Fabien Prieur, 2012. "Optimal Regime Switching and Threshold Effects. Theory and Application to a Resource Extraction Problem under Irreversibility," AMSE Working Papers 1213, Aix-Marseille School of Economics, Marseille, France.
- Daria Onori, 2013. "Optimal Growth under Flow-Based Collaterals," Working Papers halshs-00824672, HAL.
- Ngo Van Long & Fabien Prieur & Klarizze Puzon & Mabel Tidball, 2013. "Markov Perfect Equilibria in Differential Games with Regime Switching," Working Papers 13-06, LAMETA, Universtiy of Montpellier, revised Mar 2013.
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