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Environment, Growth and Fiscal and Monetary Policies

Author

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  • Joao Ricardo Faria

Abstract

This paper investigates whether monetary and fiscal policies, such as lump-sum taxes and monetization of pubic deficit, have environmental impacts. We address this question extending the neoclassical monetary growth model. We include a state equation for natural resources, and consider natural resources as an input in the production function. Fiscal policy, through public spending, always has environmental impact. Monetary policy affects the environment if money is considered as a device to reduce transactions costs or as necessary to buy goods according to cash-in-advance models. However, the qualitative impact of both policies on the environment cannot be determined. All results depend on the effect of capital on the natural resources dynamics. The model provides a framework which relates public spending and inflation with environment.

Suggested Citation

  • Joao Ricardo Faria, 1996. "Environment, Growth and Fiscal and Monetary Policies," Studies in Economics 9616, School of Economics, University of Kent.
    • Handle: RePEc:ukc:ukcedp:9616
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    More about this item

    Keywords

    Environment; Inflation; Growth;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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