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The Green Golden Rule: habit and anticipation of future consumption
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Authors and Corporations: | , |
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Title: | The Green Golden Rule: habit and anticipation of future consumption/ João Ricardo Faria, Peter McAdam |
Type of Resource: | E-Book |
Language: | English |
published: |
Frankfurt am Main, Germany
European Central Bank
[2019]
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Series: |
Europäische Zentralbank: Working paper series ; no 2247 (February 2019)
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Source: | Verbunddaten SWB Lizenzfreie Online-Ressourcen |
Abstract: | We derive the Green Golden Rule (GGR) in the Habit Formation (HF) and Anticipation of Future Consumption (AFC) frameworks. Since consumption is the key variable of GGR, time non-separabilities in preferences over consumption streams, given by the AFC and HF, may have important impacts on the environment and sustainability. We demonstrate that agents who smooth their consumption patterns, according to the HF hypothesis, are more likely to preserve the environment than those who anticipate future consumption or who do not so smooth consumption. |
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Physical Description: | 1 Online-Ressource (circa 10 Seiten) |
ISBN: |
9789289935098
928993509X |
DOI: | 10.2866/977209 |