Pecchenino, Rowena A.
(1994)
An Overlapping Generations Model of
Growth and the Enviroment.
Economic Journal, 104 (427).
pp. 1393-1410.
ISSN 0013-0133
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: |
|
| Use Licence: |
This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available
here |
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