@techreport{Dam2008environmental,
abstract = {We analyze the effects of socially responsible investment and public abatement on environmental quality and the economy in a continuous-time dynamic growth model featuring optimizing households and firms. Environmental quality is modelled as a renewable resource. Consumers can invest in government bonds or firm equity. Since investors feel partly responsible for environmental pollution when holding firm equity, they require a premium on the return to equity. We show that socially responsible investment behaviour by households partially offsets the positive effects on environmental quality of public abatement policies.},
address = {M\"{u}nchen},
author = {Lammertjan Dam and Ben J. Heijdra},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {H23; M14; O16; O41; Q21; 330; Socially responsible investment; economic growth; environmental economics; resource dynamics; stock market; Ethische Geldanlage; Kapitalanlage; Umweltbewusstsein; Umweltpolitik; Umweltschutzinvestition; Wirtschaftspolitische Wirkungsanalyse; Umweltschutz; Erneuerbare Ressourcen; Wachstumstheorie; Theorie},
language = {eng},
number = {2349},
publisher = {CESifo},
title = {The environmental and macroeconomic effects of socially responsible investment},
type = {CESifo working paper},
url = {http://hdl.handle.net/10419/26394},
year = {2008}
}
