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Growth enhancing policy is the means to sustain the environment

  • George Economides

    (Athens University of Economics and Busines)

  • Apostolis Philippopoulos

    (Athens University of Economics and Business)

We study Ramsey second-best optimal policy in a general equilibrium model of growth with renewable natural resources. Natural resources are depleted by private economic activity, but they can also be maintained by public policy. The government uses distorting taxes to finance infrastructure services and cleanup policy. Policy instruments (the tax rates and the allocation of tax revenue between infrastructure and cleanup) are chosen by solving a Ramsey-type policy problem. The more the representative citizen cares about the environment, the more growth-enhancing policies a Ramsey government should choose. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/j.red.2007.05.001
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 11 (2008)
Issue (Month): 1 (January)
Pages: 207-219

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Handle: RePEc:red:issued:06-111
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  2. Grossman, Gene M & Krueger, Alan B, 1995. "Economic Growth and the Environment," The Quarterly Journal of Economics, MIT Press, vol. 110(2), pages 353-77, May.
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  7. Beverly Hirtle, 2008. "Credit derivatives and bank credit supply," Staff Reports 276, Federal Reserve Bank of New York.
  8. Guo, Jang-Ting & Lansing, Kevin J., 1999. "Optimal taxation of capital income with imperfectly competitive product markets," Journal of Economic Dynamics and Control, Elsevier, vol. 23(7), pages 967-995, June.
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