Labor supply and growth effects of environmental policy under technological risk

Clemens, Christiane; Pittel, Karen

doi:10.21256/zhaw-3958

Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-3958

Publication type:	Article in scientific journal
Type of review:	Peer review (publication)
Title:	Labor supply and growth effects of environmental policy under technological risk
Authors:	Clemens, Christiane Pittel, Karen
DOI:	10.21256/zhaw-3958 10.1017/S1365100509990988
Published in:	Macroeconomic Dynamics
Volume(Issue):	15
Issue:	1
Pages:	31
Pages to:	59
Issue Date:	2010
Publisher / Ed. Institution:	Cambridge University Press
ISSN:	1469-8056 1365-1005
Language:	English
Subject (DDC):	330: Economics
Abstract:	This paper analyzes the effects of technological risk on long-run growth when labor supply is elastic and production gives rise to a pollution externality. We show that the randomness of production, as well as the endogeneity of labor supply, affects the equilibrium solutions for the social planner and for the market economy. We analyze the effects of environmental policy, discuss conditions for an optimal policy, and find that the response of labor supply to changes in the model parameters and to variations in the policy instruments crucially depends on the volatility of output.
Further description:	Erworben im Rahmen der Schweizer Nationallizenzen (http://www.nationallizenzen.ch)
URI:	https://digitalcollection.zhaw.ch/handle/11475/9920
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Management and Law
Organisational Unit:	Center for Economic Policy (FWP)
Appears in collections:	Publikationen School of Management and Law

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