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Environmental sustainability, nonlinear dynamics and chaos

Author

Listed:
  • Junxi Zhang

    () (Department of Economics, National University of Singapore, 10 Kent Ridge Crescent, Singapore 119260, SINGAPORE)

Abstract

This paper studies the possibility of nonlinear dynamics in a simple overlapping generations model with the environment - the John-Pecchenino (1994) model. We show that if people's concerns towards greener preferences and the maintenance efficiency relative to degradation are not sufficiently high, cyclically or chaotically fluctuating equilibria are more likely to exist; moreover, under a specific condition, a complicated topological structure might emerge. Our short-run analysis complements John and Pecchenino's long-run analysis and our findings suggest that the associated transition towards an environmentally sustainable state is not trivial.

Suggested Citation

  • Junxi Zhang, 1999. "Environmental sustainability, nonlinear dynamics and chaos," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(2), pages 489-500.
  • Handle: RePEc:spr:joecth:v:14:y:1999:i:2:p:489-500
    Note: Received: September 10, 1996; revised version: October 2, 1997
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    Citations

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    Cited by:

    1. Karine Constant & Marion Davin, 2014. "Environmental Policy and Growth in a Model with Endogenous Environmental Awareness," AMSE Working Papers 1405, Aix-Marseille School of Economics, Marseille, France, revised Mar 2014.
    2. Angelo Antoci & Mauro Sodini & Luca Zarri, 2014. "Relational consumption and nonlinear dynamics in an overlapping generations model," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 37(1), pages 137-158, April.
    3. Stefano Bosi & David Desmarchelier & Lionel Ragot, 2015. "Pollution effects on labor supply and growth," International Journal of Economic Theory, The International Society for Economic Theory, vol. 11(4), pages 371-388, December.
    4. Fanti, Luciano & Gori, Luca, 2011. "Public health spending, old-age productivity and economic growth: Chaotic cycles under perfect foresight," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1-2), pages 137-151, April.
    5. repec:cup:macdyn:v:21:y:2017:i:03:p:644-676_00 is not listed on IDEAS
    6. Mouez Fodha, 2015. "Nuclear waste storage and environmental intergenerational externalities," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 18(1/2), pages 94-114.
    7. repec:kap:enreec:v:68:y:2017:i:3:d:10.1007_s10640-016-0041-3 is not listed on IDEAS
    8. Mouez Fodha & Thomas Seegmuller, 2010. "Environmental Policy and Public Debt Stabilization," Working Papers halshs-00512789, HAL.
    9. Luciano Fanti & Luca Gori, 2013. "Fertility-related pensions and cyclical instability," Journal of Population Economics, Springer;European Society for Population Economics, vol. 26(3), pages 1209-1232, July.
    10. 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.
    11. Dam, Lammertjan, 2011. "Socially responsible investment in an environmental overlapping generations model," Resource and Energy Economics, Elsevier, vol. 33(4), pages 1015-1027.
    12. Seegmuller, Thomas & Verch Re, Alban, 2007. "A Note On Indeterminacy In Overlapping Generations Economies With Environment And Endogenous Labor Supply," Macroeconomic Dynamics, Cambridge University Press, vol. 11(03), pages 423-429, June.
    13. Palivos, Theodore & Varvarigos, Dimitrios, 2017. "Pollution Abatement As A Source Of Stabilization And Long-Run Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 21(03), pages 644-676, April.
    14. Mouez Fodha, 2009. "Protection mixte de l'environnement et externalités intergénérationnelles," Revue économique, Presses de Sciences-Po, vol. 60(3), pages 843-852.
    15. repec:gam:jsusta:v:9:y:2017:i:5:p:746-:d:97515 is not listed on IDEAS
    16. Luciano Fanti & Luca Gori, 2012. "Public Expenditure on Health and Private Old-Age Insurance in an OLG Growth Model with Endogenous Fertility: Chaotic Dynamics Under Perfect Foresight," Computational Economics, Springer;Society for Computational Economics, vol. 40(4), pages 333-353, December.

    More about this item

    Keywords

    Environmental-growth models Sustainability · Com- plex dynamics.;

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium

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