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http://hdl.handle.net/10419/28168
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| Title: | | Optimal dynamic scale and structure of a multi-pollution economy  |
| Authors: | | Baumgärtner, Stefan Jöst, Frank Winkler, Ralph |
| Issue Date: | | 2007 |
| Series/Report no.: | | University of Lüneburg working paper series in economics 50 |
| 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.- Ökonomie <Begriff> , Ökologie , Emission , Wertpapieremission, dynamic economy-environment interaction , multi-pollutant emissions , non-monotonic control , optimal scale , stock pollution |
| JEL: | | Q20 O10 O41 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Paper Series in Economics, Leuphana Universität Lüneburg
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