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Communication dans un congrès

Optimal growth under a climate constraint

Abstract : Inside a standard growth model with exhaustible resources, we study the optimal growth policy of an economy submitted to a climate constraint, taking the form of a ceiling over admissible atmospheric carbon concentrations. The optimal scenario is a three phases path: a rise of carbon concentrations until the carbon cap is attained followed by a time phase constrained by the ceiling on possible emissions and a last unconstrained phase of resource depletion. Depending upon the primitives of the model we show that the optimal path may be of two main kinds: paths characterized by a positive growth of the economy and paths corresponding to a complex structural adjustment process involving negative growth during some time interval.
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Communication dans un congrès
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Déposant : Migration Prodinra <>
Soumis le : samedi 6 juin 2020 - 04:15:43
Dernière modification le : mercredi 8 juillet 2020 - 17:26:46


  • HAL Id : hal-02807571, version 1
  • PRODINRA : 269330



Jean-Pierre Amigues, Michel Moreaux. Optimal growth under a climate constraint. 20. Annual EAERE 2013, European Association of Environmental and Resource Economists (EAERE). INT., Jun 2013, Toulouse, France. 38 p. ⟨hal-02807571⟩



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