search query: @indexterm non-renewable resources / total: 22
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| Author: | Schou, P. |
| Title: | When environmental policy is superfluous: growth and polluting resources |
| Journal: | Scandinavian Journal of Economics
2002 : VOL. 104:4, p. 605-620 |
| Index terms: | Environmental policy Growth Non-renewable resources Pollution |
| Language: | eng |
| Abstract: | A non-renewable resource gives rise to pollution in a research-driven endogenous growth model. Consumption can either grow or decline along the optimal balanced growth path, but the (flow) pollution level necessarily diminishes continuosly. Any positive balanced growth path is sustainable. There may be improvement in utility, even though consumption declines. Although positive growth is optimal, the market economy may nevertheless result in permanently declining consumption possibilites. |
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