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Regime Switching and the Shape of the

  • Nektarios Aslanidis

    (Department of Economics, University of Crete, Greece)

  • Anastasios Xepapadeas

    ()

    (Department of Economics, University of Crete, Greece)

We explore the idea of regime switching as a new methodological approach in the analysis of the emission - income relationship. We formalize the idea by using a simple static model of profit maximization where above a threshold income level a more stringent environmental policy induces a decreasing emission-income relationship. At the empirical level we estimate such a regime switching model and we find an inverse-V-shaped emission - income relationship. .Our findings are in line with the original papers in this literature. We estimate thresholds which can be viewed as turning points, and which occur at reasonable values.

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Paper provided by University of Crete, Department of Economics in its series Working Papers with number 0206.

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Length: 15 pages
Date of creation:
Date of revision: 31 Mar 2003
Handle: RePEc:crt:wpaper:0206
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  1. John, A & Pecchenino, R, 1994. "An Overlapping Generations Model of Growth and the Environment," Economic Journal, Royal Economic Society, vol. 104(427), pages 1393-1410, November.
  2. Larry E. Jones & Rodolfo E. Manuelli, 2001. "Endogenous Policy Choice: The Case of Pollution and Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 369-405, July.
  3. William Harbaugh & Arik Levinson & David Wilson, 2000. "Reexamining the Empirical Evidence for an Environmental Kuznets Curve," NBER Working Papers 7711, National Bureau of Economic Research, Inc.
  4. Gene M. Grossman & Alan B. Krueger, 1994. "Economic Growth and the Environment," NBER Working Papers 4634, National Bureau of Economic Research, Inc.
  5. Arik Levinson, 2001. "The Ups and Downs of the Environmental Kuznets Curve," Working Papers gueconwpa~01-01-08, Georgetown University, Department of Economics.
  6. Hansen, Bruce E., 1999. "Threshold effects in non-dynamic panels: Estimation, testing, and inference," Journal of Econometrics, Elsevier, vol. 93(2), pages 345-368, December.
  7. Terasvirta, T & Anderson, H M, 1992. "Characterizing Nonlinearities in Business Cycles Using Smooth Transition Autoregressive Models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 7(S), pages S119-36, Suppl. De.
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