Double dividend hypothesis, golden rule and welfare distribution

被引:41
作者
Chiroleu-Assouline, Mireille [1 ]
Fodha, Mouez [1 ]
机构
[1] Univ Paris 1 Pantheon Sorbonne, Ctr Econ Sorbonne, CNRS, F-75647 Paris 13, France
关键词
environmental tax; overlapping generations model; golden rule; double dividend;
D O I
10.1016/j.jeem.2005.09.007
中图分类号
F [经济];
学科分类号
02 [经济学];
摘要
This paper analyzes the double dividend issues within the framework of overlapping generations models. We characterize the necessary conditions for obtaining a double dividend, i.e. an improvement of environmental and non-environmental welfare when the revenue from the Pollution tax is recycled into a change in the labor tax rate. We show that, depending on the initial capital stock and on the intertemporal elasticity of substitution, conditions may be defined to simultaneously allow (i) the obtaining of a long-term double dividend, (ii) the economy to move closer to the modified golden rule and (iii) in the short term, an improvement in the welfare of the two present generations. (c) 2006 Elsevier Inc. All rights reserved.
引用
收藏
页码:323 / 335
页数:13
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