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Precaution, Cleanup and Liability: A Model of Environmentally Harmful Discharges

Author

Listed:
  • Young-Wan Goo

    (Korea National Defense University)

  • Seung-Nyeon Kim

    (Samsung Research Institute of Finance)

  • Seong-Hoon Lee

    (State University of New York at Buffalo)

Abstract

This paper examines the role of knowledge spillover across countries as well as skilled labor supply and openness in determining wage inequality. A basic general equilibrium model of long run relations linking endogenous growth and wage inequality is analyzed Our empirical work for the determinants of inequality is based on a panel data for 5-year time periods for 20 developed countries over the 1970-1990 period. The estimations are carried out with non-linear models as well as linear models. The inequality phenomena in the developed countries can be well explained by knowledge spillover across countries.

Suggested Citation

  • Young-Wan Goo & Seung-Nyeon Kim & Seong-Hoon Lee, 2005. "Precaution, Cleanup and Liability: A Model of Environmentally Harmful Discharges," Korean Economic Review, Korean Economic Association, vol. 21, pages 35-54.
    • Handle: RePEc:kea:keappr:ker-20050630-21-1-03
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    More about this item

    Keywords

    Endogeneous Growth; Diffusion of Knowledge; Inequality;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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