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Global Warming and the Population Externality

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  • Stuart, Charles
  • Bohn, Henning

Abstract

We calculate the harm a birth imposes on others when greenhouse gas emissions are a problem and a cap limits emissions damage. This negative population externality, which equals the corrective Pigovian tax on having a child, is substantial in calibrations. In our base case, the Pigovian tax is 21 percent of a parent's lifetime income in steady state and 5 percent of lifetime income immediately after imposition of a cap, per child. The optimal population in steady state, which maximizes utility taking account of the externality, is about one quarter of the population households would choose voluntarily

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Bibliographic Info

Paper provided by Department of Economics, UC Santa Barbara in its series University of California at Santa Barbara, Economics Working Paper Series with number qt82z9c3p6.

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Date of creation: 22 Apr 2011
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Handle: RePEc:cdl:ucsbec:qt82z9c3p6

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Keywords: population externality; Pigovian tax; emissions cap; endogenous fertility; population growth; economic growth; optimal population; calibrated optimal child tax; greenhouse gas emissions; global warming; Social and Behavioral Sciences;

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  1. Ogaki, M & Reinhart, C-M, 1995. "Measuring Intertemporal Substitution : The Role of Durable Goods," RCER Working Papers 404, University of Rochester - Center for Economic Research (RCER).
  2. Gary S. Becker & Robert J. Barro, . "A Reformulation of the Economic Theory of Fertility," University of Chicago - Population Research Center 85-11, Chicago - Population Research Center.
  3. Ravi Bansal & Amir Yaron, 2000. "Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles," NBER Working Papers 8059, National Bureau of Economic Research, Inc.
  4. Larry E. Jones & Alice Schoonbroodt & Michèle Tertilt, 2008. "Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?," NBER Working Papers 14266, National Bureau of Economic Research, Inc.
  5. Kelly, David L. & Kolstad, Charles D., 1999. "Malthus and Climate Change: Betting on a Stable Population," University of California at Santa Barbara, Economics Working Paper Series qt9ks625sk, Department of Economics, UC Santa Barbara.
  6. Larry E. Jones & Alice Schoonbroodt, 2010. "Complements Versus Substitutes And Trends In Fertility Choice In Dynastic Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(3), pages 671-699, 08.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. About taxing children for climate change
    by Economic Logician in Economic Logic on 2012-04-04 14:46:00

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