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| Author: | Rubio, S.J. Ulph, A. |
| Title: | An infinite-horizon model of dynamic membership of international environmental agreements |
| Journal: | Journal of Environmental Economics and Management
2007 : NOV, VOL. 54:3 p. 296-310 |
| Index terms: | environmental economics |
| Freeterms: | stock pollutant internal and external stability conditions |
| Language: | eng |
| Abstract: | In this study the authors investigate simple infinite-horizon type of the static model of self-enforcing IEAs, in which damage costs rises with the stock of pollution, and countries decide each period whether to join an IEA. The authors analyse it by conducting a quadratic approximation of the value function of the representative country and illustrate that there is a steady-state stock of pollution, with corresponding steady-state IEA membership, and that as the stock increases towards steady state the IEA membership decreases. In addition the authors find that the higher the cost of damage is, and thus the higher are the possible gains from cooperation, the lesser is the membership of a self-enforcing IEA. |
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