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2007•RePEc: Research Papers in EconomicsRequires access

A Note on Indeterminacy in Overlapping Generations Economies with Environment and Endogenous Labor Supply

Thomas Seegmuller, Alban Verchère

Open publisher page 6 citations

Abstract

We consider an overlapping generations model with environment and an elastic labor supply. In this framework, consumers have to choose between consumption, environmental quality, and leisure. We show the existence of both deterministic cycles and indeterminacy. In contrast to previous results, the emergence of endogenous fluctuations does not require a high emission rate of pollution.

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What this paper is about

We consider an overlapping generations model with environment and an elastic labor supply. In this framework, consumers have to choose between consumption, environmental quality, and leisure. We show the existence of both deterministic cycles and indeterminacy. In contrast to previous results, the emergence of endogenous fluctuations does not require a high emission rate of pollution.

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Available abstract

We consider an overlapping generations model with environment and an elastic labor supply. In this framework, consumers have to choose between consumption, environmental quality, and leisure. We show the existence of both deterministic cycles and indeterminacy. In contrast to previous results, the emergence of endogenous fluctuations does not require a high emission rate of pollution.

Key concepts: Indeterminacy (philosophy), Overlapping generations model, Economics, Consumption (sociology), Microeconomics, Production (economics), Labour supply, Environmental quality

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