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Double Dividend Hypothesis, Golden Rule and Welfare Distribution

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Author Info
Mireille Chiroleu-Assouline () (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I)
Mouez Fodha () (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I)

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Abstract

This paper analyzes the double dividend issues within the framework of overlapping generations models. We characterize the necessary conditions for obtaining a double dividend, i.e. an improvement of environmental and non-environmental welfare when the revenue from the pollution tax is recycled into a change in the labor tax rate. We show that, depending on the initial capital stock and on the intertemporal elasticity of substitution, conditions may be defined to simultaneously allow (i) the obtaining of a long term double dividend, (ii) the economy to move closer to the modified golden rule and (iii) in the short term, an improvement in the welfare of the two present generations.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00089895_v1.

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Date of creation: May 2006
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Publication status: Published, Journal of Environmental Economics and Management, 2006, 51, 3, 323-335
Handle: RePEc:hal:cesptp:halshs-00089895_v1

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Keywords: Environmental tax; Overlapping generations model; Golden rule; Double dividend;

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References listed on IDEAS
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  1. S. Proost & D. Regemorter, 1995. "The double dividend and the role of inequality aversion and macroeconomic regimes," International Tax and Public Finance, Springer, vol. 2(2), pages 207-219, August. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Carlos Gómez & Javier Lozano & Javier Rey-Maquieira, 2008. "Environmental policy and long-term welfare in a tourism economy," Spanish Economic Review, Springer, vol. 10(1), pages 41-62, March. [Downloadable!] (restricted)
  2. Mireille Chiroleu-Assouline & Mouez Fodha, 2005. "Double Dividend with Involuntary Unemployment: Efficiency and Intergenerational Equity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 31(4), pages 389-403, 08. [Downloadable!] (restricted)
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