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| Author: | Chiroleu-Assouline, M. Fodha, M. |
| Title: | Double dividend hypothesis, golden rule and welfare distribution |
| Journal: | Journal of Environmental Economics and Management
2006 : MAY, VOL. 51:3, p. 323-335 |
| Index terms: | dividends environment taxation welfare |
| Language: | eng |
| Abstract: | This article explores the double dividend issues within the framework of overlapping generations models. The authors identify the necessary conditions for obtaining a double dividend, i.e. an improvement of environmental and non-environmental welfare when the revenue from the pollution tax is recycled into a change in the labour tax rate. It is shown that, depending on the initial capital stock and on the intertemporal elasticity of substitution, conditions may be defined to simultaneously allow (i) the obtaining of a long-term double dividend, (ii) the economy to move closet to the modified golden rule and (iii) in the short term, an improvement in the welfare of the two present generations. |
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