Air Pollution, Allocation of Property Rights, Environmental Issues and Theoretical Overlapping Generations General Equilibrium Modelling

Tchouto Jules
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Tchouto Jules: University of Rouen, France

South East European Journal of Economics and Business, 2011, vol. 6, issue 1, 23-36

Abstract: This paper presents how the environment - considered as a production factor - and other related assumptions can be introduced step by step in a theoretical Overlapping Generations General Equilibrium Model (OLG - GE). The first part shows the behaviors of agents with pollution in the absence of an environmental policy. The second part emphasizes a Greenhouse Gas abatement policy through the allocation of Pollution Permit ownership, which allows property rights on the environment; here we assume a three-factor model: Capital - Labor - Environment. The last part of of the paper highlights one theoretical property about the allocation of pollution permits within a OLG-GE steady state with the environment. To our knowledge, it is the first time that the aforementioned property has been characterized.

Keywords: Environment Property Right; Pollution Permit Ownership; Environmental Maintenance; Air Pollution; OLG-GE model; Intergenerational Equity; Environment Property Right; Pollution Permit Ownership; Environmental Maintenance; Air Pollution; OLG-GE model; Intergenerational Equity (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:seejeb:v:6:y:2011:i:1:p:23-36:n:3

DOI: 10.2478/v10033-011-0003-1

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