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    An Overlapping Generations Model of Growth and the Enviroment


    Pecchenino, Rowena A. (1994) An Overlapping Generations Model of Growth and the Enviroment. Economic Journal, 104 (427). pp. 1393-1410. ISSN 0013-0133

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    Abstract

    This article analyses the potential conflict bpiween econonnic growth and the maintenance of environmental quality in an overlapping generations model. Shorl-livcd individuals make decisions which have long-lasting effects on both factor productivity and the environment. The model provides a theoretical explanation of observed correlations between environmental quality and income, whereby ecotiomic growth is associated first with declines, then improvements, in environmental quality. It suggests circumstances in which multiple Pareto-ranked steady-state equilibria may arise, and in which sustained growth of both capital and environmental quality may occur. Overmaititcnance of the environment, analogous to dynamically inefficient overaccumulation of capital, may emerge.

    Item Type: Article
    Keywords: Overlapping; Generations; growth; Enviroment;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 8519
    Depositing User: Prof. Rowena Pecchenino
    Date Deposited: 26 Jul 2017 11:09
    Journal or Publication Title: Economic Journal
    Publisher: Wiley
    Refereed: Yes
    URI:

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