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Growth in an OLG Economy with Polluting Non-Renewable Resources

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  • Nicolas Clootens

Abstract

This paper analyses the effects of flow pollution implied by the use of necessary non-renewable resources, fossil fuel for example, on overlapping generations (OLG) economies. Notably, it shows that, on the balanced growth path, flow pollution reduces the (negative) resources contribution to growth and increases resources conservation, capital accumulation, and growth. Flow pollution thus increases the ability of an economy to sustain a non-decreasing consumption path. Some of the results are due to (or magnified by) the OLG structure of the economy. In addition, the paper highlights the need for public intervention and shows that the optimal allocation may be decentralized using a tax on resources use and transfers

Suggested Citation

  • Nicolas Clootens, 2021. "Growth in an OLG Economy with Polluting Non-Renewable Resources," Annals of Economics and Statistics, GENES, issue 141, pages 3-22.
    • Handle: RePEc:adr:anecst:y:2021:i:141:p:3-22
    DOI: https://doi.org/10.15609/annaeconstat2009.141.0003
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    Cited by:

    1. Nicolas Clootens & Francesco Magris, 2020. "The Environmental Unsustainability of Public Debt: Non-Renewable Resources, Public Finances Stabilization and Growth," Working Papers halshs-02952314, HAL.

    More about this item

    Keywords

    Non-renewable Resources; Growth; Pollution; Overlapping Generations.;
    All these keywords.

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

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