Economic growth and the environment : an introduction to the theory
This title explores the debate on how to reconcile economic growth with protection of the natural environment, and the closely related discussion on whether an increasing scarcity of natural resources will eventually force economic growth to cease. The debate focuses on whether environmental policies will benefit the economy or not, and is divided into growth optimists and growth pessimists. This book brings together the discussion between growth optimists and pessimists, and presents the theory behind their arguments
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9780191640551, 0191640557
1012474123
Machine generated contents note: 1. Introduction
1.1. The Fundamental Question: Is Sustainability Feasible?
1.2. Why growth?
1.3. Delimitations
1.4. Disposition
1.4.1. Part I: Tools
1.4.2. Part II: Natural resources
1.4.3. Part III: Pollution
pt. I TOOLS
2. Production
2.1. Production function
2.1.1. Inputs
2.1.2. Neo-classical assumptions
2.2. Variables in intensity form
2.2.1. Per capita variables
2.2.2. Per unit of effective labor
2.2.3. The capital-output ratio
2.3. The elasticity of substitution
2.4. Income shares (output elasticities)
2.4.1. Kaldor facts
2.4.2. Defining income shares
2.4.3. Income shares and output growth
2.4.4. Some implications
2.5. The CES function
2.5.1. Income shares
2.5.2. Intensity form
2.6. Conclusion
2.7. Exercises
3. The Solow model
3.1. Capital accumulation
3.2. Solow's fundamental equation
3.2.1. Deriving the equation
3.2.2. Some implications
3.3. Steady state. Note continued: 3.3.1. Without technological change
3.3.2. With technological change
3.3.3. The Golden Rule
3.4. Transition to steady state
3.4.1. Without technological change
3.4.2. With technological change
3.5. Endogenous growth
3.6. The CES case
3.7. An alternative solution method
3.8. Conclusion
3.9. Exercises
4. Endogenous technological change
4.1. Some properties of technology
4.2. The extended model
4.2.1. The research sector
4.2.2. The full model
4.3. Four cases
4.3.1. Endogenous growth (Romer)
4.3.2. Semi-endogenous growth (Jones)
4.3.3. Weak limits to growth
4.3.4. Absolute limits to growth
4.4. Directed technological change
4.5. Steady state direction (optional)
4.5.1. Step 1
4.5.2. Step 2
4.6. Conclusion
4.7. Exercises
pt. II NATURAL RESOURCES
5. Land
5.1. The production factor land
5.2. The general model
5.2.1. Direction of technological change
5.2.2. Implications. Note continued: 5.3. Transitional dynamics
5.4. The CES case
5.5.A Cobb
Douglas case
5.6. Variable population growth
5.6.1. Exogenous population growth
5.6.2. Endogenous population growth
5.7. Conclusion
5.8. Exercises
5.9. Appendix
5.9.1. Balanced direction
5.9.2. Output growth
6. Exhaustible resources
6.1. The energy constraint
6.2. The general case
6.2.1. Direction of technological change
6.2.2. Implications
6.2.3. Transitional dynamics
6.3. Energy in the CES function
6.3.1. Balanced growth
6.3.2. Non-balanced growth
6.4.A Cobb
Douglas case
6.4.1. With technological progress
6.4.2. Without technological progress
6.5. Transition to renewable energy
6.5.1. Firm optimization
6.5.2. The full growth model
6.5.3. Long-run growth
6.5.4. Long-run energy paths
6.6. The resource curse
6.6.1. Negative and positive experiences of natural resources
6.6.2. Explanations of the natural resource curse. Note continued: 6.6.3. Summary on the resource curse
6.7. Conclusion
6.8. Exercises
6.9. Appendix
6.9.1. Balanced direction
6.9.2. Output growth
6.9.3. Integrating the resource constraint
6.9.4. Time derivative of E
6.9.5. Growth rates of N and R
pt. III POLLUTION
7. Pollution reduction by abatement
7.1. Scale, composition, and technology effects
7.2. Stock pollution
7.3. Production, pollution, and abatement
7.3.1. Specific Form I
7.3.2. Specific Form II
7.3.3. Specific Form III
7.4. The growth model
7.5. Abatement share
7.6. Environmental policy
7.7. Conclusion
7.8. Exercises
8. Pollution reduction by directed technological charge
8.1.A model with environmental technology
8.1.1. Output and growth
8.1.2. Pollution
8.1.3. The simplest case
8.2. Cobb
Douglas
8.3. CES
8.4. Phasing out a polluting input
8.4.1. Recollection of the model
8.4.2. Good substitution possibilities. Note continued: 8.4.3. Bad substitution possibilities
8.5. Conclusion
8.6. Exercises
9. Utility maximization
9.1.A general model
9.1.1. The model
9.1.2. Optimal time path of pollution
9.2.A special case
9.2.1. Using the formula
9.2.2. Using the utility-maximization condition
9.3. The Stokey model
9.3.1. Consumption and pollution
9.3.2. Utility maximization
9.3.3. Solution
9.4. Increasing returns to abatement
9.5. Empirics on the environmental Kuznets curve
9.5.1. Method and early results
9.5.2. Criticism
9.6. Conclusion
9.7. Exercises