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Pollution Abatement as a Source of Stabilisation and Long-Run Growth

In a two-period overlapping generations model with production, we consider the damaging impact of environmental degradation on health and, consequently, life expectancy. The government’s involvement on policies of environmental preservation proves crucial for both the economy’s short-term dynamics and its long-term prospects. Particularly, an active policy of pollution abatement emerges as an important engine of long-run economic growth. Furthermore, by eliminating the occurrence of limit cycles, pollution abatement is also a powerful source of stabilisation.

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Paper provided by Department of Economics, University of Macedonia in its series Discussion Paper Series with number 2010_13.

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Date of creation: Sep 2010
Date of revision: Sep 2010
Handle: RePEc:mcd:mcddps:2010_13
Contact details of provider: Web page: http://www.uom.gr/index.php?tmima=3

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