Uniqueness and Indeterminacy of Equilibria in a Model with Polluting Emissions
AbstractIs pollution a dirty word? To answer this question we develop an endogenous growth model à la Rebelo (1991) where dirtiness becomes a fundamental choice variable for the economy to grow. Conclusions to our analysis say that a positive sustainable economic growth is attainable only if polluting production activities are taken into account. Moreover, transitional dynamics points out that local stability and uniqueness of equilibria are also achieved.
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Bibliographic InfoPaper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2006.28.
Date of creation: Feb 2006
Date of revision:
Environmental quality; Endogenous economic growth; Pollution-augmenting technology;
Find related papers by JEL classification:
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-04-30 (All new papers)
- NEP-ENE-2006-05-24 (Energy Economics)
- NEP-ENV-2006-05-18 (Environmental Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sergio Rebelo, 1999.
"Long Run Policy Analysis and Long Run Growth,"
Levine's Working Paper Archive
2114, David K. Levine.
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"Endogenous Technological Change,"
Levine's Working Paper Archive
2135, David K. Levine.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Stokey, Nancy L, 1998. "Are There Limits to Growth?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(1), pages 1-31, February.
- Christian Scholz & Georg Ziemes, 1999. "Exhaustible Resources, Monopolistic Competition, and Endogenous Growth," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(2), pages 169-185, March.
- Grimaud, Andre, 1999. "Pollution Permits and Sustainable Growth in a Schumpeterian Model," Journal of Environmental Economics and Management, Elsevier, vol. 38(3), pages 249-266, November.
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