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    International and Intergenerational Environmental Externalities


    Pecchenino, Rowena A. (1997) International and Intergenerational Environmental Externalities. Scandinavian Journal of Economics, 99 (3). pp. 371-387. ISSN 0347-0520

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    Abstract

    We examine a world in which policymakers’ actions in a given country at a given time have long-lived effects on a common resource: the global environment. We consider the first best in which long-lived planners behave cooperatively, then examine the allocation of resources when there is non-cooperation across countries, across time, or both. Finally we analyze the dynamic behavior of the economy along balanced growth paths. It is found that while longlived international institutions are necessary to internalize all externalities, cooperation at a point in time may be harmful to future generations.

    Item Type: Article
    Keywords: International; Intergenerational; Environmental; Externalities;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 8517
    Identification Number: https://doi.org/10.1111/1467-9442.00069
    Depositing User: Prof. Rowena Pecchenino
    Date Deposited: 26 Jul 2017 10:46
    Journal or Publication Title: Scandinavian Journal of Economics
    Publisher: Wiley
    Refereed: Yes
    URI:

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