Amigues, Jean-Pierre and Moreaux, Michel
(2013)
Optimal growth under a climate constraint.
TSE Working Paper, n. 13-436
Preview |
Text
Download (402kB) | Preview |
Abstract
Inside a standard growth model with exhaustible resources, we study the
optimal growth policy of an economy submitted to a climate constraint, taking
the form of a ceiling over admissible atmospheric carbon concentrations.
The optimal scenario is a three phases path: a rise of carbon concentrations
until the carbon cap is attained followed by a time phase constrained by the
ceiling on possible emissions and a last unconstrained phase of resource depletion.
Depending upon the primitives of the model we show that the optimal
path may be of two main kinds: paths characterized by a positive growth
of the economy and paths corresponding to a complex structural adjustment
process involving negative growth during some time interval.
Item Type: | Monograph (Working Paper) |
---|---|
Date: | January 2013 |
Uncontrolled Keywords: | Carbon pollution, economic growth, exhaustible resources |
JEL Classification: | Q00 - General Q32 - Exhaustible Resources and Economic Development Q43 - Energy and the Macroeconomy Q54 - Climate; Natural Disasters |
Subjects: | B- ECONOMIE ET FINANCE |
Divisions: | TSE-R (Toulouse) |
Site: | UT1 |
Date Deposited: | 09 Jul 2014 17:39 |
Last Modified: | 02 Apr 2021 15:48 |
OAI Identifier: | oai:tse-fr.eu:27655 |
URI: | https://publications.ut-capitole.fr/id/eprint/15741 |