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Wissenschaftliche Berichte:

E. Moser, A. Fürnkranz-Prskawetz, G. Tragler:
"Environmental Regulations, Abatement and Economic Growth";
Bericht für TU Wien, ORCOS, Research Report 2011; Berichts-Nr. 02, 2011; 23 S.



Kurzfassung englisch:
Due to recent global discussions about climate change and its possible consequences, the usage
of environmental policy instruments with the intent to counteract against the current environmental
developments has become increasingly important. Environmental regulation as policy instrument
is supposed to reduce or ideally minimize emissions and pollution. However, the question arises
how effective such regulations really are. Further on it is not obvious whether they rather repress
innovation and economic growth than induce a shift towards a greener technology. To address these
questions we investigate an endogenous growth model in an environmental context, introduced by
M.Rauscher [Green R & D versus End-of-Pipe Emission Abatement: A Model of Directed Technical
Change. Thuenen-Series of Applied Economic Theory, 106, 2009]. There, the author investigates
the impact of environmental standards on capital accumulation and R&D investments in an economy
where both, brown (dirty) as well as green (clean) capital can be used in production. While Rauscher
keeps the problem formulation rather general without assuming specific model functions, our focus
is to apply optimal control theory to a specific scenario of this model.

Erstellt aus der Publikationsdatenbank der Technischen Universität Wien.