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Intergenerational Modelling of the Greenhouse Effect

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  • Clive L Spash

Abstract

A major implication of global climate change is that future generations will suffer severe damages while the current generation benefits. In this paper a model is developed to analyze the potential need for mitigating the adverse impacts of the greenhouse effect on efficiency grounds. The model characterises basic transfers, investigate the effect of greenhouse emissions, and analyze exogenous and endogenous uncertainty. The first (or current) generation faces the problem of dividing available resources amongst current consumption and transfers to future generations. A two-period model is presented in which the first generation may achieve beneficial transfers to the second by investment in capital (I), in technology (T), or by a direct bequest of final goods (B) and/or by leaving fossil fuel stocks undepleted.
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Suggested Citation

  • Clive L Spash, 1994. "Intergenerational Modelling of the Greenhouse Effect," Working Papers Series 94/3, University of Stirling, Division of Economics.
    • Handle: RePEc:stl:stlewp:94/3
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    References listed on IDEAS

    as
    1. Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-974, December.
    2. H. Uzawa, 1961. "Neutral Inventions and the Stability of Growth Equilibrium," Review of Economic Studies, Oxford University Press, vol. 28(2), pages 117-124.
    3. R. M. Solow, 1974. "Intergenerational Equity and Exhaustible Resources," Review of Economic Studies, Oxford University Press, vol. 41(5), pages 29-45.
    4. Spash, Clive L. & d'Arge, Ralph C., 1989. "The greenhouse effect and intergenerational transfer," Energy Policy, Elsevier, vol. 17(2), pages 88-96, April.
    5. Cropper, M. L., 1976. "Regulating activities with catastrophic environmental effects," Journal of Environmental Economics and Management, Elsevier, vol. 3(1), pages 1-15, June.
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    More about this item

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

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