Optimal dynamic scale and structure of a multi-pollution economy
Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere
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Optimal dynamic scale and structure of a multi-pollution economy. / Baumgärtner, Stefan; Jöst, Frank; Winkler, Ralph.
Lüneburg : Institut für Volkswirtschaftslehre der Universität Lüneburg, 2007. (Working paper series in economics; Nr. 50).Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere
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TY - UNPB
T1 - Optimal dynamic scale and structure of a multi-pollution economy
AU - Baumgärtner, Stefan
AU - Jöst, Frank
AU - Winkler, Ralph
N1 - Literaturverz. S. 30 - 34
PY - 2007
Y1 - 2007
N2 - We analyze the optimal dynamic scale and structure of a two-sector-economy, where each sector produces one consumption good and ons specific pollutant. Both pollutants accumulate at different 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 acticity may be less than maximal; (ii) the time sclae economic dynamics (change of scale and structure) is mainly determined by the lifetime of pollutNTS, 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.
AB - We analyze the optimal dynamic scale and structure of a two-sector-economy, where each sector produces one consumption good and ons specific pollutant. Both pollutants accumulate at different 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 acticity may be less than maximal; (ii) the time sclae economic dynamics (change of scale and structure) is mainly determined by the lifetime of pollutNTS, 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.
KW - Sustainability sciences, Management & Economics
KW - dynamic economy-environment interaction
KW - multi-pollutant emissions
KW - non-monotonic control
KW - optimal scale
KW - Stock pollution
KW - structural change
KW - time scale
M3 - Working papers
T3 - Working paper series in economics
BT - Optimal dynamic scale and structure of a multi-pollution economy
PB - Institut für Volkswirtschaftslehre der Universität Lüneburg
CY - Lüneburg
ER -