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Environmental fiscal polices might be ineffective to control pollution

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dc.contributor.authorFernández Casillas, Mª Esther
dc.contributor.authorPérez Sánchez, Rafaela María
dc.contributor.authorRuiz Andújar, Jesús
dc.date.accessioned2023-06-21T01:46:06Z
dc.date.available2023-06-21T01:46:06Z
dc.date.issued2003
dc.description.abstractIn a one sector growth model with pollution in the utility function, the competitive equilibrium can be indeterminate for plausible values of the intertemporal substitution elasticity of consumption and under constant returns to scale. The tax rate on pollution does not enter the condition characterizing indeterminacy. This means that the government is not able to control emissions in the economy by using environmental policies. Non-separability between private consumption and pollution in the utility function is crucial for this result.
dc.description.facultyFac. de Ciencias Económicas y Empresariales
dc.description.facultyInstituto Complutense de Análisis Económico (ICAE)
dc.description.refereedTRUE
dc.description.statuspub
dc.eprint.idhttps://eprints.ucm.es/id/eprint/7684
dc.identifier.relatedurlhttps://www.ucm.es/icae
dc.identifier.urihttps://hdl.handle.net/20.500.14352/64515
dc.issue.number07
dc.language.isoeng
dc.page.total16
dc.publication.placeMadrid
dc.publisherFacultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
dc.relation.ispartofseriesDocumentos de trabajo de Instituto Complutense de Análisis Económico (ICAE)
dc.rights.accessRightsopen access
dc.subject.keywordGrowth model
dc.subject.keywordControl emissions
dc.subject.keywordEnvironmental policies
dc.subject.ucmEconometría (Economía)
dc.subject.unesco5302 Econometría
dc.titleEnvironmental fiscal polices might be ineffective to control pollution
dc.typetechnical report
dc.volume.number2003
dcterms.referencesAiyagari, S.R., ”The econometrics of indeterminacy: an applied study, a comment”, Carnegie-Rochester Conf. Ser. Public Policy 43 (1995), 273-282. Benhabib, J. and R.E.A. Farmer, ”Indeterminacy and sector specific externalities”, Journal of Monetary Economics 37 (1996), 421-443. Benhabib, J. and R.E.A. Farmer (1999), ”Indeterminacy and Sunspots in Macroeconomics”. Handbook of Macroeconomics, J. Taylor and M. Woodford, eds, North Holland. Benett, R.L. and R.E.A. Farmer, ”Indeterminacy with non-separable utility”, Journal of Economic Theory 93 (2000), 118-143. Browing, M.J. (1982), ”Profit function representations for consumer preferences”, Bristol University Discussion Paper, 82/125. Browing, Deaton and Irish (1985), ”A profitable approach to labor supply and commodity demands over the life-cycle” Econometrica, 53, 503-543. Farmer, R.E.A. and J.T. Guo, Real business cycles and the animal spirits hypothesis, Journal of EconomicTheory 63 (1994), 42-73. Fernández, E., A. Novales and J. Ruiz (2003), ”Indeterminacy under non-separability of public consumption and leisure in the utility function”, Economic Modelling, forthcoming. Hansen(1985), ”Indivisble labor and the bussiness cycle”, Journal of Monetary Economics, 16, 309-327.
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relation.isAuthorOfPublication09e8d6db-f2ef-4fb3-9a82-3fcf571145ba
relation.isAuthorOfPublication.latestForDiscovery1655b814-ffeb-4e54-bbe9-3b4474ef5ee6

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