Uniqueness and Indeterminacy of Equilibria in a Model with Polluting Emissions

Giovanni Bella

No 2006.28, Working Papers from Fondazione Eni Enrico Mattei

Abstract: Is pollution a dirty word? To answer this question we develop an endogenous growth model à la Rebelo (1991) where dirtiness becomes a fundamental choice variable for the economy to grow. Conclusions to our analysis say that a positive sustainable economic growth is attainable only if polluting production activities are taken into account. Moreover, transitional dynamics points out that local stability and uniqueness of equilibria are also achieved.

Keywords: Environmental quality; Endogenous economic growth; Pollution-augmenting technology (search for similar items in EconPapers)
JEL-codes: O41 Q01 Q32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene and nep-env
Date: 2006-02
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