Optimal dynamic scale and structure of a multi-pollution economy

• Titel: Optimal dynamic scale and structure of a multi-pollution economy
• Mitwirkende: Baumgärtner, Stefan
• Mitwirkende: Jöst, Frank
• Mitwirkende: Winkler, Ralph
• Verf.angabe: Stefan Baumgärtner; Frank Jöst; Ralph Winkler
• Verlagsort: Lüneburg
• Verlag: Univ.
• E-Jahr: 2007
• Jahr: May 2007
• Umfang: Online-Ressource, 34 S., Text, 413 Kb
• Illustrationen: graph. Darst.
• Gesamttitel/Reihe: University of Lueneburg working paper series in economics ; 50
• Fussnoten: Parallel als Druckausg. erschienen
• ComputerInfo: Systemvoraussetzungen: Acrobat Reader.
• Datenträger: Online-Ressource
• Sprache: eng
• Bibliogr. Hinweis: Erscheint auch als : Druck-Ausgabe: Baumgärtner, Stefan, 1968 - : Optimal dynamic scale and structure of a multi-pollution economy. - Lüneburg : Inst. für Volkswirtschaftslehre, 2007. - 34 S.
• Sach-SW: Sustainability sciences, Management & Economics
• Form-SW: Arbeitspapier
• Form-SW: Graue Literatur
• K10plus-PPN: 538099658

Abstract

We analyze the optimal dynamic scale and structure of a two-sectoreconomy, where each sector produces one consumption good and one specific pollutant. Both pollutants accumulate at different rates to stocks which damage the natural environment. This acts as a dynamic driving force for the economy. Our analysis shows that along the optimal time-path (i) the overall scale of economic activity may be less than maximal; (ii) the time scale of economic dynamics (change of scale and structure) is mainly determined by the lifetime of pollutants, their harmfulness and the discount rate; and (iii) the optimal control of economic scale and structure may be non-monotonic. These results raise important questions about the optimal design of environmental policies.- Ökonomie <Begriff> , Ökologie , Emission , Wertpapieremission, dynamic economy-environment interaction , multi-pollutant emissions , non-monotonic control , optimal scale , stock pollution