Precaution, Cleanup and Liability: A Model of Environmentally Harmful Discharges

Young-Wan Goo, Seung-Nyeon Kim and Seong-Hoon Lee
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Young-Wan Goo: Korea National Defense University
Seung-Nyeon Kim: Samsung Research Institute of Finance
Seong-Hoon Lee: State University of New York at Buffalo

Korean Economic Review, 2005, vol. 21, 35-54

Abstract: This paper examines the role of knowledge spillover across countries as well as skilled labor supply and openness in determining wage inequality. A basic general equilibrium model of long run relations linking endogenous growth and wage inequality is analyzed Our empirical work for the determinants of inequality is based on a panel data for 5-year time periods for 20 developed countries over the 1970-1990 period. The estimations are carried out with non-linear models as well as linear models. The inequality phenomena in the developed countries can be well explained by knowledge spillover across countries.

Keywords: Endogeneous Growth; Diffusion of Knowledge; Inequality (search for similar items in EconPapers)
JEL-codes: F12 F43 J31 O31 (search for similar items in EconPapers)
Date: 2005
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