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Growth and Distribution under an Environmental Restriction

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  • Hosoda, Eiji

Abstract

The author introduces an environmental restriction into the traditional two-sector growth model with two classes and analyzes how distributional variables, per capita consumption, and the growth rate are affected in the long-run if an economy is competitive. As an environmental restriction, the author considers an emission-rate constraint, which is imposed on each industry by the government. An emission charge is assumed to be determined by the balance of supply of and demand for emission rights. Another interpretation of this model is possible, depending upon which variable is predetermined as an exogenous parameter. Copyright 1994 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • Hosoda, Eiji, 1994. "Growth and Distribution under an Environmental Restriction," The Manchester School of Economic & Social Studies, University of Manchester, vol. 62(1), pages 60-80, March.
  • Handle: RePEc:bla:manch2:v:62:y:1994:i:1:p:60-80
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Mervyn A. King & Mark Robson, 1989. "Endogenous Growth and the role of History," NBER Working Papers 3151, National Bureau of Economic Research, Inc.
    3. Xavier Sala-i-Martin, 1990. "Lecture Notes on Economic Growth(II): Five Prototype Models of Endogenous Growth," NBER Working Papers 3564, National Bureau of Economic Research, Inc.
    4. Grier, Kevin B. & Tullock, Gordon, 1989. "An empirical analysis of cross-national economic growth, 1951-1980," Journal of Monetary Economics, Elsevier, pages 259-276.
    5. Russell Cooper & Andrew John, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, Oxford University Press, pages 441-463.
    6. Stern, Nicholas, 1991. "The Determinants of Growth," Economic Journal, Royal Economic Society, vol. 101(404), pages 122-133, January.
    7. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, pages 141-163.
    8. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, January.
    9. Robert Summers & Alan Heston, 1991. "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950–1988," The Quarterly Journal of Economics, Oxford University Press, pages 327-368.
    10. Sala-I-Martin, X., 1990. "Lecture Notes On Economic Growth: Five Prototype Models Of Endogenous Growth," Papers 622, Yale - Economic Growth Center.
    11. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, pages 3-42.
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    Cited by:

    1. Eiji Hosoda, 2000. "Asymmetry of price control and quantity control in an environmental policy," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 3(4), pages 381-397, December.

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