Reconsidering the Impact of the Environment on Long-run Growth when Pollution Influences Health and Agents have a Finite-lifetime |
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Authors: | X Pautrel |
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Institution: | (1) Nantes Atlantique Université, Laboratoire d’économie de Nantes (LEN), Université de Nantes, Chemin de la Censive du Tertre, BP 52231, Nantes Cedex 3, 44322, France |
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Abstract: | Using an overlapping generation model à la Blanchard (1985, J Polit Econ 93:223–247) with human capital accumulation, we demonstrate that the influence of the environment
on optimal growth in the long-run may be explained by the detrimental effect of pollution on life expectancy. We also show
that, in such a case, greener preferences are growth- and welfare-improving in the long-run even if the ability of the agents
to learn is independent of pollution and utility is additively separable. Finally, we establish that a minimum environmental
policy is required to obtain a sustainable equilibrium in the market economy and that it is possible to implement a win–win
environmental policy. |
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Keywords: | Growth Environment Overlapping generations Human capital Health |
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