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dc.contributor.authorHeijdra, Ben J.en
dc.contributor.authorHeijnen, Pimen
dc.date.accessioned2009-12-18-
dc.date.accessioned2010-05-14T08:22:54Z-
dc.date.available2010-05-14T08:22:54Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2859en
dc.subject.jelD60en
dc.subject.jelE62en
dc.subject.jelH23en
dc.subject.jelH63en
dc.subject.jelQ20en
dc.subject.jelQ28en
dc.subject.jelQ50en
dc.subject.ddc330en
dc.subject.keywordShallow-lake dynamicsen
dc.subject.keywordbifurcationen
dc.subject.keywordenvironmental policyen
dc.subject.keywordabatementen
dc.subject.keywordoverlapping generationsen
dc.subject.stwUmweltpolitiken
dc.subject.stwUmweltauflageen
dc.subject.stwSchocken
dc.subject.stwWirkungsanalyseen
dc.subject.stwUmweltökonomiken
dc.subject.stwNichtlineare dynamische Systemeen
dc.subject.stwGleichgewichten
dc.subject.stwMehr-Sektoren-Modellen
dc.subject.stwOverlapping Generationsen
dc.subject.stwTheorieen
dc.titleEnvironmental policy and the macroeconomy under shallow-lake dynamics-
dc.typeWorking Paperen
dc.identifier.ppn615349315en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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