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Diskontraten: Endogen oder nicht endogen? / Disounting: Endogenous or not Endogenous?: Eine umweltrelevante Fragestellung / Implications for the Environment

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  • Pittel Karen

    () (ΕΤΗ Zürich, WIF – Institut für Wirtschaftsforschung, Zürichbergstr. 18, ZUE F12, CH-8032 Zürich, Schweiz, Switzerland)

Abstract

This paper explores implications that arise for growth and environmental policy when discount rates are endogenous. Standard growth models usually assume discount rates to be independent of any economic or environmental considerations. In our paper we argue that discount rates depend upon the state of the environment.

Suggested Citation

  • Pittel Karen, 2005. "Diskontraten: Endogen oder nicht endogen? / Disounting: Endogenous or not Endogenous?: Eine umweltrelevante Fragestellung / Implications for the Environment," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 225(4), pages 441-458, August.
  • Handle: RePEc:jns:jbstat:v:225:y:2005:i:4:p:441-458
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    References listed on IDEAS

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    1. Bovenberg, A Lans & Smulders, Sjak A, 1996. "Transitional Impacts of Environmental Policy in an Endogenous Growth Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 861-893, November.
    2. Ferraguto Giuseppe & Pagano Patrizio, 2003. "Endogenous Growth with Intertemporally Dependent Preferences," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-40, November.
    3. Raymond Gradus & Sjak Smulders, 1993. "The trade-off between environmental care and long-term growth—Pollution in three prototype growth models," Journal of Economics, Springer, vol. 58(1), pages 25-51, February.
    4. Frank Hettich, 1998. "Growth effects of a revenue-neutral environmental tax reform," Journal of Economics, Springer, vol. 67(3), pages 287-316, October.
    5. Das, Mausumi, 2003. "Optimal growth with decreasing marginal impatience," Journal of Economic Dynamics and Control, Elsevier, vol. 27(10), pages 1881-1898, August.
    6. Becker, Robert A. & Boyd, John III & Sung, Bom Yong, 1989. "Recursive utility and optimal capital accumulation. I. Existence," Journal of Economic Theory, Elsevier, vol. 47(1), pages 76-100, February.
    7. Epstein, Larry G., 1987. "A simple dynamic general equilibrium model," Journal of Economic Theory, Elsevier, vol. 41(1), pages 68-95, February.
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    Cited by:

    1. Kögel, Tomas, 2011. "The social cost of carbon on an optimal balanced growth path," Economics Discussion Papers 2011-35, Kiel Institute for the World Economy (IfW).

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