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題名: | How could the non-sustainable Easter Island have been sustained? | 作者: | 賴景昌 Chu, C.Y. Cyrus Lai, Ching-Chong Liao, Chih-Hsing |
貢獻者: | 經濟學系 | 關鍵詞: | Endogenous growth; Environmental policy; Renewable resources | 日期: | Nov-2014 | 上傳時間: | 15-Aug-2017 | 摘要: | The collapsing scenario of Easter Island has been analyzed by Brander and Taylor (1998) as a predator-prey model in a Malthusian world, in which the household is only concerned with its instantaneous utility. This paper develops an endogenous growth model with a renewable resource and analyzes the possibly non-sustainable growth as a steady state, in spite of the household being deeply concerned with all its future lifetime utility. Our analysis shows that the ignorance of future lifetimes in present decision-making is indeed crucial to economic non-sustainability. We then examine whether a deforestation tax set by the government could have reduced the resource exploration rate and thereby held back the economic collapse. We also demonstrate using phase-diagrams how such a tax can switch the economic dynamics from non-sustainability to sustainability. © 2014 Elsevier Inc. | 關聯: | International Review of Economics and Finance, 34, 161-174 | 資料類型: | article | DOI: | http://dx.doi.org/10.1016/j.iref.2014.08.007 |
Appears in Collections: | 期刊論文 |
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