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Environmental Abatement and Intergenerational Distribution

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  • Bovenberg, A.L.
  • Heijdra, B.J.

    (Tilburg University, Center for Economic Research)

Abstract

This paper employs an overlapping generations model to explore the impact of public abatement on private investment and the intergenerational distribution of welfare. Whereas public abatement benefits old generations in terms of non-environmental welfare, future generations gain most in terms of environmental welfare. The overall benefits tend to be smallest for generations born at the time of the unanticipated policy shock. Public debt policy, however, can be employed to ensure that welfare gains are distributed more equally across the various generations. Such a policy implies that natural capital crowds out man-made capital.

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Bibliographic Info

Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 1998-100.

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Date of creation: 1998
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Handle: RePEc:dgr:kubcen:1998100

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Related research

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

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References

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  1. Bovenberg, A. Lans & Heijdra, Ben J., 1999. "Environmental abatement and intergenerational distribution," Research Report 99C63, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  2. 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.
  3. Marini, Giancarlo & van der Ploeg, Frederick, 1987. "Monetary and Fiscal Policy in an Optimizing Model with Capital Accumulation and Finite Lives," CEPR Discussion Papers 167, C.E.P.R. Discussion Papers.
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  8. Bovenberg, A.L., 1993. "Investment-promoting policies in open economies: The importance of intergenerational and international distributional effects," Open Access publications from Tilburg University urn:nbn:nl:ui:12-152980, Tilburg University.
  9. Judd, Kenneth L, 1985. "Short-run Analysis of Fiscal Policy in a Simple Perfect Foresight Model," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 298-319, April.
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  12. Richard B. Howarth & Richard B. Norgaard, 1990. "Intergenerational Resource Rights, Efficiency, and Social Optimality," Land Economics, University of Wisconsin Press, vol. 66(1), pages 1-11.
  13. Mourmouras, Alex, 1993. "Conservationist government policies and intergenerational equity in an overlapping generations model with renewable resources," Journal of Public Economics, Elsevier, vol. 51(2), pages 249-268, June.
  14. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-47, April.
  15. Marini Giancarlo & Scaramozzino Pasquale, 1995. "Overlapping Generations and Environmental Control," Journal of Environmental Economics and Management, Elsevier, vol. 29(1), pages 64-77, July.
  16. Judd, Kenneth L., 1982. "An alternative to steady-state comparisons in perfect foresight models," Economics Letters, Elsevier, vol. 10(1-2), pages 55-59.
  17. Fisher, Walter H & Turnovsky, Stephen J, 1998. "Public Investment, Congestion, and Private Capital Accumulation," Economic Journal, Royal Economic Society, vol. 108(447), pages 399-413, March.
  18. 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.
  19. Howarth, Richard B., 1991. "Intergenerational competitive equilibria under technological uncertainty and an exhaustible resource constraint," Journal of Environmental Economics and Management, Elsevier, vol. 21(3), pages 225-243, November.
  20. Becker, Robert A., 1982. "Intergenerational equity: The capital-environment trade-off," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 165-185, June.
  21. Howarth, Richard B, 1998. " An Overlapping Generations Model of Climate-Economy Interactions," Scandinavian Journal of Economics, Wiley Blackwell, vol. 100(3), pages 575-91, September.
  22. Pasek, Joanna, 1992. "Obligations to future generations: A philosophical note," World Development, Elsevier, vol. 20(4), pages 513-521, April.
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Citations

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Cited by:
  1. Bovenberg, A.L. & Heijdra, B.J., 1998. "Environmental Abatement and Intergenerational Distribution," Discussion Paper 1998-100, Tilburg University, Center for Economic Research.
  2. Heijnen, P. & Wagener, F.O.O., 2013. "Avoiding an ecological regime shift is sound economic policy," Journal of Economic Dynamics and Control, Elsevier, vol. 37(7), pages 1322-1341.
  3. 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.
  4. Xavier Pautrel, 2008. "Environmental Policy, Education and Growth: A Reappraisal when Lifetime Is Finite," Working Papers 2008.57, Fondazione Eni Enrico Mattei.
  5. Habla, Wolfgang & Roeder, Kerstin, 2013. "Intergenerational aspects of ecotax reforms – An application to Germany," Journal of Environmental Economics and Management, Elsevier, vol. 66(2), pages 301-318.
  6. Ben Heijdra & Pim Heijnen, 2013. "Environmental Abatement and the Macroeconomy in the Presence of Ecological Thresholds," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 55(1), pages 47-70, May.
  7. Tetsuo Ono, 2007. "Environmental Tax Reform, Economic Growth, and Unemployment in an OLG Economy," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 63(1), pages 133-161, March.
  8. 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.
  9. Ben J. Heijdra & Pim Heijnen, 2009. "Environmental Policy and the Macroeconomy under Shallow-Lake Dynamics," CESifo Working Paper Series 2859, CESifo Group Munich.

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