First-and second-best allocations under economic and environmental uncertainty

Konstantinos Angelopoulos (), George Economides and Apostolis Philippopoulos

Working Papers from Business School - Economics, University of Glasgow

Abstract: This paper uses a micro-founded DSGE model to compare second-best optimal environmental policy and the resulting allocation to first-best allocation. The focus is on the source and size of uncertainty, and how this affects optimal choices and the inferiority of second best vis-à-vis first best.

Keywords: General equilibrium; uncertainty; environmental policy; second best (search for similar items in EconPapers)
JEL-codes: C68 D81 H23 (search for similar items in EconPapers)
Date: 2010-10
New Economics Papers: this item is included in nep-dge, nep-env and nep-res
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.gla.ac.uk/media/media_184730_en.pdf (application/pdf)

Related works:
Journal Article: First-and second-best allocations under economic and environmental uncertainty (2013)
Working Paper: First-and second-best allocations under economic and environmental uncertainty (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gla:glaewp:2010_35

Access Statistics for this paper

More papers in Working Papers from Business School - Economics, University of Glasgow Contact information at EDIRC.
Bibliographic data for series maintained by Business School Research Team ().