Please use this identifier to cite or link to this item: https://doi.org/10.48548/pubdata-1257
Resource typeWorking Paper
Title(s)Optimal dynamic scale and structure of a multi-pollution economy
DOI10.48548/pubdata-1257
Handle20.500.14123/1320
CreatorBaumgärtner, Stefan  0000-0001-8314-8462  121846857
Jöst, Frank
Winkler, Ralph
AbstractWe 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.
LanguageEnglish
KeywordsEmission; Control; Stock Pollution; Ökonomie; Ökologie; Emission; Wertpapieremission
Year of publication in PubData2007
Publishing typeFirst publication
Publication versionPublished version
Date issued2007-08-20
Creation contextResearch
Published byMedien- und Informationszentrum, Leuphana Universität Lüneburg
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