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Endogenous fluctuations induced by nonlinear pollution accumulation in an OLG economy and the bifurcation control

  • Cao, Dong
  • Wang, Lin
  • Wang, Yaozhong
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This paper aims to study the influence of nonlinear pollution accumulation on economic growth by incorporating the nonlinear pollution accumulation into an OLG model. It is shown that the nonlinearity can yield very complex dynamics, including the flip bifurcation resulting in sustained fluctuations in economy. This indicates that the nonlinear pollution accumulation can be a source of intergenerational inequity. To stabilize the complex motion and thus to control the fluctuations, a bifurcation control method from control theory is proposed. The welfare analysis shows the sustainable development criterion can be met in the controlled system but not in the original system.

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File URL: http://www.sciencedirect.com/science/article/pii/S0264999311001878
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Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 28 (2011)
Issue (Month): 6 ()
Pages: 2528-2531

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Handle: RePEc:eee:ecmode:v:28:y:2011:i:6:p:2528-2531
DOI: 10.1016/j.econmod.2011.07.016
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/30411

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  1. Jean-Paul Chavas, 2004. "On Impatience, Economic Growth and the Environmental Kuznets Curve: A Dynamic Analysis of Resource Management," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 28(2), pages 123-152, June.
  2. Schumacher, Ingmar & Zou, Benteng, 2008. "Pollution perception: A challenge for intergenerational equity," Journal of Environmental Economics and Management, Elsevier, vol. 55(3), pages 296-309, May.
  3. Seegmuller, Thomas & Verchere, Alban, 2004. "Pollution as a source of endogenous fluctuations and periodic welfare inequality in OLG economies," Economics Letters, Elsevier, vol. 84(3), pages 363-369, September.
  4. Jouvet, Pierre-Andre & Michel, Philippe & Rotillon, Gilles, 2005. "Optimal growth with pollution: how to use pollution permits?," Journal of Economic Dynamics and Control, Elsevier, vol. 29(9), pages 1597-1609, September.
  5. Krishna Paudel & Mark Schafer, 2009. "The Environmental Kuznets Curve Under a New Framework: The Role of Social Capital in Water Pollution," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(2), pages 265-278, February.
  6. Arrow, Kenneth & Bolin, Bert & Costanza, Robert & Dasgupta, Partha & Folke, Carl & Holling, C. S. & Jansson, Bengt-Owe & Levin, Simon & Maler, Karl-Goran & Perrings, Charles & Pimentel, David, 1995. "Economic growth, carrying capacity, and the environment," Ecological Economics, Elsevier, vol. 15(2), pages 91-95, November.
  7. Dinda, Soumyananda, 2004. "Environmental Kuznets Curve Hypothesis: A Survey," Ecological Economics, Elsevier, vol. 49(4), pages 431-455, August.
  8. Gene M. Grossman & Alan B. Krueger, 1995. "Economic Growth and the Environment," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 353-377.
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