Greening the Neoclassical Optimal Economic Growth Model

Amnon Levy ()

Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: A no-arbitrage rule of consumption and a golden rule of capital accumulation are derived under the assumptions that the satisfaction from consumption is spoiled by environmental degradation caused by industrialisation but moderated by cleaning up and greening operations.

Keywords: consumption rule; capital accumulation; environmental degradation; greening (search for similar items in EconPapers)
Date: 2002
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