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Medientyp:
E-Artikel
Titel:
An Overlapping Generations Model of Growth and the Environment
Beteiligte:
John, A.;
Pecchenino, R.
Erschienen:
Blackwell Publishers, 1994
Erschienen in:The Economic Journal
Sprache:
Englisch
ISSN:
0013-0133;
1468-0297
Entstehung:
Anmerkungen:
Beschreibung:
<p>This article analyses the potential conflict between economic growth and the maintenance of environmental quality in an overlapping generations model. Short-lived 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 economic 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. Overmaintenance of the environment, analogous to dynamically inefficient over-accumulation of capital, may emerge.</p>