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Economic Growth and Greenhouse Gas Mitigation at the Environmental Limit

Author

Listed:
  • Burda, Michael
  • Zessner-Spitzenberg, Leopold

Abstract

An environmental limit changes the nature of economic growth, but does not preclude it. When atmospheric greenhouse gas levels reach a critical threshold, further economic growth requires a permanently expanding and resource-intensive mitigation effort. If too slow, technical progress in mitigation becomes a constraint and the ultimate determinant of economic growth. Secularly expanding GDP remains a durable feature of this class of economies, however, and characterizes the social planner’s optimum. Our findings are robust to the introduction of directed technical change.

Suggested Citation

  • Burda, Michael & Zessner-Spitzenberg, Leopold, 2026. "Economic Growth and Greenhouse Gas Mitigation at the Environmental Limit," CEPR Discussion Papers 21973, Centre for Economic Policy Research.
    • Handle: RePEc:cpr:ceprdp:21973
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    File URL: https://cepr.org/publications/DP21973
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    Keywords

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    JEL classification:

    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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