Transitional impacts of environmental policy in an endogenous growth model

• 成果类型: Article
• 署名作者: Bovenberg, AL; Smulders, SA
• 署名单位: Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.2307/2527315
• 发表日期: 1996
• 页码: 861-893
• 关键词: economic-growth; technological-change; pollution; externalities; DYNAMICS; QUALITY; cost

摘要

To explore the link between a tighter environmental policy and economic growth, we employ an endogenous growth model with endogenous technological progress in abatement technologies. The environment, which is modelled as a renewable resource, acts both as a public consumption good and as a public input into production. The entire transition towards a new balanced-growth path after a tightening of environmental policy is computed analytically. We find sharp contrasts between short-run and long-run effects. Whereas the level and the growth rate of output may decline in the short run, income growth may improve in the long run.