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Can Economic Activities Lead to Climate Chaos? An Economic Analysis on Global Warming

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  • Zhiqi Chen

Abstract

This paper presents a two-sector dynamic general equilibrium model in which the productivity of the agricultural sector depends on the atmospheric temperature, which in turn is influenced by the activities of the manufacturing sector. The equilibrium time paths of the world economy and temperature depend on the rate at which the Earth sheds heat. If this decay is too small, the dynamic interaction between the climate system and the market mechanism, both of which are stable in isolation, may lead to cycles or even chaos. Furthermore, economic growth may push the world economy and temperature from a stable stead state into a cyclical or chaotic time path.

Suggested Citation

  • Zhiqi Chen, 1997. "Can Economic Activities Lead to Climate Chaos? An Economic Analysis on Global Warming," Canadian Journal of Economics, Canadian Economics Association, vol. 30(2), pages 349-366, May.
    • Handle: RePEc:cje:issued:v:30:y:1997:i:2:p:349-66
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    Citations

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    Cited by:

    1. Troy Tassier, 2013. "Handbook of Research on Complexity, by J. Barkley Rosser, Jr. and Edward Elgar," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 39(1), pages 132-133.
    2. Dutta, Prajit K. & Radner, Roy, 2009. "A strategic analysis of global warming: Theory and some numbers," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 187-209, August.
    3. Barkley Rosser, J. Jr., 2001. "Complex ecologic-economic dynamics and environmental policy," Ecological Economics, Elsevier, vol. 37(1), pages 23-37, April.
    4. Simone Borghesi & Angelo Antoci & Paolo Russu, 2004. "Biodiversity and Economic Growth: Stabilization Versus Preservation of the Ecological Dynamics," Working Papers 2004.18, Fondazione Eni Enrico Mattei.
    5. Cai, Yuezhou & Riezman, Raymond & Whalley, John, 2013. "International trade and the negotiability of global climate change agreements," Economic Modelling, Elsevier, vol. 33(C), pages 421-427.
    6. Loreno Cecconi, 2015. "Using Pollutant and not-Pollutant Capital into a dynamic analysis of Environment-Economic integrated models: a critical approach," Department of Economics University of Siena 713, Department of Economics, University of Siena.
    7. Rosser Jr., J. Barkley, 2010. "Is a transdisciplinary perspective on economic complexity possible?," Journal of Economic Behavior & Organization, Elsevier, vol. 75(1), pages 3-11, July.
    8. J. Barkley Rosser, Jr, 2011. "Post Keynesian Perspectives And Complex Ecologic–Economic Dynamics," Metroeconomica, Wiley Blackwell, vol. 62(1), pages 96-121, February.
    9. Antonio Doria, Francisco, 2011. "J.B. Rosser Jr. , Handbook of Research on Complexity, Edward Elgar, Cheltenham, UK--Northampton, MA, USA (2009) 436 + viii pp., index, ISBN 978 1 84542 089 5 (cased)," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1-2), pages 196-204, April.
    10. David Appels, 2001. "Forest rotation lengths under carbon sequestration payments," Others 0110007, University Library of Munich, Germany.

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