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Pigovian taxes, tradable permits and a dynamic process for an economy with pollution

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  • DE SOUSA RAMOS, F.

Abstract

This paper's purpose is to discuss the problems posed by water pollution, as well as its resolution in a static and dynamic context. We consider an economy with a public "bad" : pollution. The overproduction of this good is corrected in a static context by using incentive instruments: Pigovian taxes and tradable permits. In a dynamic context, we use effluent standards to bring this economy from a laissez faire equilibrium (where firms are free to pollute) to an efficient state in the sense of Pareto. To achieve this: i) we characterize an efficient state; ii) we use stability analysis to simulate the evolution of this economy to the optimum; iii) finally, we establish the main properties of the dynamic process (feasibility, individual rationality, convergence, stability) .
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • De Sousa Ramos, F., 1992. "Pigovian taxes, tradable permits and a dynamic process for an economy with pollution," LIDAM Reprints CORE 1258, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:1258
    Note: In : J. W. Owsinski, J. Stefanski, A. Straszak (eds.). Proceedings of the IFORS SPC-2 Conference on ``Transition to Advanced Market Economies''. Warsaw, Association of Polish Operational Research Societies, 445-455, 1992.
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