Environmental Resources, Public Inputs and Fiscal Constraints

Authors

  • Omar Chisari CEDES-CONICET, Buenos Aires
  • Fernando Navajas CEPAL, Buenos Aires

Keywords:

environmental resources, public inputs, fiscal constraints, public expenditure, capital accumulation, production function

Abstract

We study the consequences of a binding constraint on the level of public expenditures directed at sustaining an environmental resource, which enters as a public input (alongside capital) into the economy-wide production function. As expected, the long run stock of that resource is reduced; however, we also find that the long run capital stock is reduced in a larger proportion. Also, the capital-environmental resource ratio becomes sensitive to changes in the rate of interest.

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References

CEPAL. (1990). Crisis económica y medio ambiente en la Argentina (Documento LC/R.851). Unidad Conjunta CEPAL/PNUMA.

Chisari, O., & Fanelli, J. M. (1990). Three gap models, optimal growth and the economic dynamics of highly indebted economies (Working Paper). CEDES.

Dasgupta, P. (1982). The control of resources. Basil Blackwell.

Feehan, J. (1989). Pareto efficiency with three varieties of public input. Public Finance, (2), 236–248.

Kurz, M. (1968). The general instability of a class of competitive growth processes. Review of Economic Studies, 35(2), 155–174.

Levhari, D., & Liviatan, N. (1972). On stability in the saddle-point sense. Journal of Economic Theory, 4(1), 88–93. https://doi.org/10.1016/0022-0531(72)90165-2

Mäler, K.-G. (1989). Economic theory and environmental degradation: A survey of some problems [Ponencia]. IX Latin American Meeting of the Econometric Society, Santiago de Chile.

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Published

1990-10-31

How to Cite

Chisari, O., & Navajas, F. (1990). Environmental Resources, Public Inputs and Fiscal Constraints. Economic Analysis Review, 5(2), 61–68. Retrieved from https://www.rae-ear.org/index.php/rae/article/view/260

Issue

Vol. 5 No. 2 (1990)

Section

Articles

License

Copyright (c) 1990 Omar Chisari, Fernando Navajas

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

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