@techreport{Baumgartner2007Optimal,
abstract = {We analyze the optimal dynamic scale and structure of a two-sectoreconomy, where each sector produces one consumption good and one specific pollutant. Both pollutants accumulate at di_erent rates to stocks which damage the natural environment. This acts as a dynamic driving force for the economy. Our analysis shows that along the optimal time-path (i) the overall scale of economic activity may be less than maximal; (ii) the time scale of economic dynamics (change of scale and structure) is mainly determined by the lifetime of pollutants, their harmfulness and the discount rate; and (iii) the optimal control of economic scale and structure may be non-monotonic. These results raise important questions about the optimal design of environmental policies.- \"{O}konomie <Begriff> , \"{O}kologie , Emission , Wertpapieremission, dynamic economy-environment interaction , multi-pollutant emissions , non-monotonic control , optimal scale , stock pollution},
address = {L\"{u}neburg},
author = {Stefan Baumg\"{a}rtner and Frank J\"{o}st and Ralph Winkler},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {Q20; O10; O41; 330; Umwelt\"{o}konomik; Mehr-Sektoren-Modell; Umweltbelastung; Skalenertrag; Intertemporale Allokation; Umweltpolitik; Theorie},
language = {eng},
number = {50},
publisher = {Leuphana-Univ.},
title = {Optimal dynamic scale and structure of a multi-pollution economy},
type = {University of L\"{u}neburg working paper series in economics},
url = {http://hdl.handle.net/10419/28168},
year = {2007}
}
