0000000000147207

AUTHOR

J. Aznar-márquez

showing 3 related works from this author

Environmental pollution, sustained growth, and sufficient conditions for sustainable development

2016

Abstract Sustainability and optimality are the two main issues discussed in environmental economics and economic growth theory. This paper studies economic growth in the presence of two environmental externalities. The first one is local and gives account of the marginal damage from the emissions flow. The second one is aggregate, or global, and relates to the extreme damage which may happen if the accumulated stock of pollutants is on the threshold of a worldwide catastrophe. In this context, the decentralized equilibrium is inefficient and economic growth unsustainable. However, we find and completely characterize the socially optimal equilibrium, which shows that sustained growth is feas…

Sustainable developmentEconomics and Econometricseducation.field_of_study050208 finance05 social sciencesPopulationPareto principleEnvironmental pollutionSubsidyEnvironmental economicsIncentive0502 economics and businessSustainabilityEconomics050207 economicseducationExternalityEconomic Modelling
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Endogenous Growth, Capital Utilization and Depreciation

2004

We study the one sector model of growth when a linear production technology is combined with adjustment costs and a technology for capital maintenance. Agents are allowed to under-use the installed capital and to vary the depreciation rate. This economy decides endogenously how much resources devotes to the accumulation of new capital and how much to maintenance and repair activities. We find as striking results that the long-run depreciation and capital utilization rates are positively related to the population growth rate, and that both depend negatively on the intial conditions. The long-run growth rate appears positively correlated with the depreciation rate.

Labour economicsEndogenous growth theoryDepreciationCapital deepeningCapital (economics)EconomicsPopulation growthProduction (economics)Capital Consumption AllowanceConsumption of fixed capitalSSRN Electronic Journal
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Sustainable growth and environmental catastrophes

2017

Abstract In the standard AK growth model we introduce the threat of an ecological catastrophe and study the consequences for the economic variables in the long-run. We extend the basic framework by considering two environmental externalities: the first one is local and gives account of the marginal damage from emissions flow; the second one is aggregate, or global, and relates to the extreme damage which may happen if the accumulated stock of pollutants is on the threshold of a worldwide catastrophe. In this context dominated by market failures, we focus on the socially optimal solution and the search of conditions for sustainability. We identify the efficient balanced growth path, which ma…

021110 strategic defence & security studiesSociology and Political Science05 social sciences0211 other engineering and technologiesGeneral Social Sciences02 engineering and technologyGrowth modelOptimal controlMicroeconomicsSingularity0502 economics and businessSustainabilityEconomics050207 economicsStatistics Probability and UncertaintySustainable growth rateMathematical economicsGeneral PsychologyExternalityStock (geology)Market failureMathematical Social Sciences
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