Arbeitspapier
Environmental policy and the macroeconomy under shallow-lake dynamics
We study the environmental and economic effects of public abatement in the presence of multiple stable steady-state ecological equilibria. Under shallow-lake dynamics (SLD), the isocline for the stock of pollution features two stable branches, a good and a bad one. Assuming that the ecology is initially located on the upper (bad) branch of the isocline, the ecological equilibrium is hysteretic and a suitably designed temporary abatement policy can be used to steer the environment from the bad to the good equilibrium. In all models considered in this paper, a cold turkey abatement policy is optimal, i.e. the largest feasible shock should be administered for the shortest possible amount of time. Depending on the particular model used to characterize the economic system, there is a capital feedback effect that either helps or hinders the attainment of a successful abatement policy.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 2859
- Klassifikation
-
Wirtschaft
Welfare Economics: General
Fiscal Policy
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
National Debt; Debt Management; Sovereign Debt
Renewable Resources and Conservation: General
Renewable Resources and Conservation: Government Policy
Environmental Economics: General
- Thema
-
Shallow-lake dynamics
bifurcation
environmental policy
abatement
overlapping generations
Umweltpolitik
Umweltauflage
Schock
Wirkungsanalyse
Umweltökonomik
Nichtlineare dynamische Systeme
Gleichgewicht
Mehr-Sektoren-Modell
Overlapping Generations
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Heijdra, Ben J.
Heijnen, Pim
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Heijdra, Ben J.
- Heijnen, Pim
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2009
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