Global and local indeterminacy and optimal environmental public policies in an economy with public abatement activities
Global and local indeterminacy and optimal environmental public policies in an economy with public abatement activities
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具有公共减排活动的经济体中的全球和局部不确定性以及最优环境公共政策
DOI：
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发表时间：
2004
期刊：
影响因子：
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通讯作者：
Jesús Ruiz Andújar
中科院分区：
文献类型：
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作者：
Rafael Sánchez;Jesús Ruiz Andújar
我们研究了一个有污染的内生增长模型的动态特性，在这个模型中，政府可以通过对污染企业的扭曲税收和公共减排活动来控制污染。首先，我们刻画了当政府是仁慈的并考虑分散竞争均衡选择税收政策时均衡不确定的条件。在这种次优设置下，我们发现可以找到两条平衡的增长路径（一条是低污染水平，另一条是高污染水平），这两条路径都是局部不确定的。因此，在不确定性条件下，最优公共政策不能保证经济向低污染水平的稳态趋同，也不能保证经济在转型过程中呈现低污染水平。其次，我们证明了中央计划方案也可能表现出不确定性；特别是，可以找到两种庇古税。
We study the dynamic properties of an endogenous growth model with pollution in which the government can control the pollution through distorting taxes on the pollutant firms and through public abatement activities. First, we characterize the conditions for indeterminacy of equilibria when the government is benevolent and chooses its tax policy by taking into account the decentralized competitive equilibrium. Under this second best setup we show that two balanced growth paths can be found (one with a low level of pollution and the other with a high level) both of which can be locally indeterminate. Therefore, under indeterminacy, the optimal public policies do not guarantee that the economy will converge towards the steady state characterized by a low level of pollution and neither guarantee that the economy will display, along the transition, low levels of pollution. Second, we show that the central planner solution might also display indeterminacy; in particular, two Pigouvian taxes can be found.