Optimal Growth when Environmental Quality is a Research Asset
نویسندگان
چکیده
If environmental quality positively a ects the productivity of labor in R&D and pollution is caused by the use of a non-renewable resource, it is socially optimal to postpone extraction and to intertemporally adjust R&D e ort.
منابع مشابه
تعیین مالیات زیستمحیطی بهینه در الگوی رشد تعمیمیافته با وجود انتقال تکنولوژی پاک و کیفیت محیطزیست: نمونۀ اقتصاد ایران
This study aims at determining the optimal environmental tax policy in the context of a dynamic model. For this purpose, clean technology diffusion was added to the AK growth model and the theoretical model has been generalized to the open economy. The main feature of the economy is creating pollution in the process of economic growth and its negative impact on social welfare. The diffusion...
متن کاملValuation of Near-Market Endogenous Assets∗
For many kinds of assets, the growth rate of the real asset stock is a nonlinear function of the economic owner’s decision whether to invest or extract the asset. Examples within the economy are primarily biological assets, both privately owned (such as those found in aquaculature and agriculture) and publicly owned or regulated (such as fish stocks, and in some case, timber stocks.) Optimal ex...
متن کاملasset pricing anomalies at the firm level
Anomaly is deviation from common rules and in finance it can be defined as a pattern in the average of stock return that is not consistent with the prevailing asset pricing models literature. For anomaly investigation two common methods are used: portfolio approach and individual firm approach. This paper wants to shed light on anomalies of capital asset pricing model at the individual firm lev...
متن کاملFinancial Soundness Indicators with Emphasis on Non-performing Loans in Iran’s Banking System
This paper analyzes the financial soundness indicators in Iran`s banking system. In the first part it emphasis on asset quality measure by the non-performing loans ratio. The non-performing loans grew rapidly in last decade in Iran’s banking system and it reached higher than 25 percent of total loans in 2010. We conclude that NPLs increase have impact on real part of economy in the concept...
متن کاملInsurer Optimal Asset Allocation in a Small and Closed Economy: The Case of Iran’s Social Security Organization
We seek to determine the optimal amount of the insurer’s investment in all types of assets for a small and closed economy. The goal is to detect the implications and contributions the risk seeker and risk aversion insurer commonly make and the effectiveness in the investment decision. Also, finding the optimum portfolio for each is the main goal of the present study. To this end, we adopted the...
متن کامل