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The Environmental Kuznets Curve in a World of Irreversibility

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Author Info
Fabien Prieur (GREQAM and INRA-LAMETA)

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Abstract

We develop an overlapping generations model where consumption is the source of polluting emissions. Pollution stock accumulates with emissions but is partially assimilated by nature at each period. The assimilation capacity of nature is limited and vanishes beyond a critical level of pollution. We first show that multiple equilibria exist. More importantly, some exhibit irreversible pollution levels although an abatement activity is operative. Thus, the simple engagement of maintenance does not necessarily suffice to protect an economy against convergence toward a steady state having the properties of an ecological and economic poverty trap. In contrast with earlier related studies, the emergence of the environmental Kuznets curve is no longer the rule. Instead, we detect a sort of degenerated Environmental Kuznets Curve that corresponds to the equilibrium trajectory leading to the irreversible solution.

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Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2007.57.

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Date of creation: May 2007
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Handle: RePEc:fem:femwpa:2007.57

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Related research
Keywords: Overlapping Generations; Irreversible Pollution; Poverty Trap; Environmental Kuznets Curve;

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Find related papers by JEL classification:
Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounting
D62 - Microeconomics - - Welfare Economics - - - Externalities
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving

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  24. repec:att:wimass:1920310 is not listed on IDEAS
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    Other versions:
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