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dc.contributor.authorHeijdra, Ben J.en_US
dc.contributor.authorHeijnen, Pimen_US
dc.date.accessioned2009-12-18en_US
dc.date.accessioned2010-05-14T08:22:54Z-
dc.date.available2010-05-14T08:22:54Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/30585-
dc.description.abstractWe study the environmental and economic effects of public abatement in the presence of multiple stable steady-state ecological equilibria. Under shallow-lake dynamics (SLD), the isocline for the stock of pollution features two stable branches, a good and a bad one. Assuming that the ecology is initially located on the upper (bad) branch of the isocline, the ecological equilibrium is hysteretic and a suitably designed temporary abatement policy can be used to steer the environment from the bad to the good equilibrium. In all models considered in this paper, a cold turkey abatement policy is optimal, i.e. the largest feasible shock should be administered for the shortest possible amount of time. Depending on the particular model used to characterize the economic system, there is a capital feedback effect that either helps or hinders the attainment of a successful abatement policy.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2859en_US
dc.subject.jelD60en_US
dc.subject.jelE62en_US
dc.subject.jelH23en_US
dc.subject.jelH63en_US
dc.subject.jelQ20en_US
dc.subject.jelQ28en_US
dc.subject.jelQ50en_US
dc.subject.ddc330en_US
dc.subject.keywordShallow-lake dynamicsen_US
dc.subject.keywordbifurcationen_US
dc.subject.keywordenvironmental policyen_US
dc.subject.keywordabatementen_US
dc.subject.keywordoverlapping generationsen_US
dc.subject.stwUmweltpolitiken_US
dc.subject.stwUmweltauflageen_US
dc.subject.stwSchocken_US
dc.subject.stwWirkungsanalyseen_US
dc.subject.stwUmweltökonomiken_US
dc.subject.stwNichtlineare dynamische Systemeen_US
dc.subject.stwGleichgewichten_US
dc.subject.stwMehr-Sektoren-Modellen_US
dc.subject.stwOverlapping Generationsen_US
dc.subject.stwTheorieen_US
dc.titleEnvironmental policy and the macroeconomy under shallow-lake dynamicsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn615349315en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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