全球智库信息集成服务系统(G2TT): Optimal economic growth with a random environmental shock.

G2TT

来源类型	Book Section
DOI	10.1007/978-3-642-02132-9_6
	Optimal economic growth with a random environmental shock.
	Aseev SM; Besov KO; Ollus S-E; Palokangas T; Cuaresma, J. Crespo; Palokangas, T.; Tarasyev, A.
发表日期	2010
出处	Dynamic Systems, Economic Growth, and the Environment. Eds. Cuaresma, J. Crespo , Palokangas, T. & Tarasyev, A. , Heidelberg: Springer-Verlag. ISBN 978-3-642-02131-2 DOI: 10.1007/978-3-642-02132-9_6 .
出版年	2010
语种	英语
摘要	The government in a small open economy uses both an old 'dirty," or "polluting," technology and a new "clean" technology simultaneously. However, because of climate change, it should take into account that at some stage in the future it will be penalized for production based on the old technology. In this paper, pollution is alleviated through international agreements that restrict polluting activities. The government's incentives to invest in cleaner technologies are based on productivity of the technology and randomly increasing abatement costs for pollution in future. In contrast to the Schumpeterian model of creative destruction, both technologies can be used simultaneously. The technologies are subject to AK production functions. Assuming that the exogenous environmental shock follows a Poisson process, we use Pontryagin's maximum principle to find the optimal investment policy. We find conditions under which a rational government should invest all its resources in one technology, while the other is moderately run down, as well as conditions under which it should divide the investments between the technologies in a certain ratio.
主题	Dynamic Systems (DYN)
URL	http://pure.iiasa.ac.at/id/eprint/9351/
来源智库	International Institute for Applied Systems Analysis (Austria)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/134134
推荐引用方式 GB/T 7714	Aseev SM,Besov KO,Ollus S-E,et al. Optimal economic growth with a random environmental shock.. 2010.