Amigues, Jean-Pierre and Moreaux, Michel (2013) Optimal growth under a climate constraint. TSE Working Paper, n. 13-436

[thumbnail of 13.08.395.pdf]
Download (402kB) | Preview


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
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 09 Jul 2014 17:39
Last Modified: 02 Apr 2021 15:48
OAI Identifier:
View Item


Downloads per month over past year