| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Transitional Dynamics and Uniqueness of the Balanced-Growth Path in a Simple Model of Endogenous Growthwith an Environmental Asset | |
| Guido Cazzavillan; Ignazio Musu | |
| 发表日期 | 2001 |
| 出处 | Climate Change and Sustainable Development |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | We present an optimal endogenous growth model with an environmental asset which delivers a direct social utility value. The efficiency of the production services provided by the environmental asset directly depend on past capital accumulation. Such an assumption corresponds to assuming that past capital accumulation embodies new technologies requiring lower and lower environmental pressure per unit of output. We show that a sustainable balanced growth, where output and capital both grow at a constant positive rate, and the environmental asset remains constant over time, exists, is unique and is saddle-point stable. We discuss the implications of the optimal balanced growth path for environmental policy and show that emission taxes can be used to support subsidies on capital required to make the competitive endogenous growth rate equal to the socially optimal growth rate. |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/transitional-dynamics-and-uniqueness-of-the-balanced-growth-path-in-a-simple-model-of-endogenous-growthwith-an-environmental-asset/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116668 |
| 推荐引用方式 GB/T 7714 | Guido Cazzavillan,Ignazio Musu. Transitional Dynamics and Uniqueness of the Balanced-Growth Path in a Simple Model of Endogenous Growthwith an Environmental Asset. 2001. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2001-065.pdf（388KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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