Double Dividend Hypothesis, Golden Rule and Welfare Distribution

摘要: This paper analyzes the double dividend issues within framework of overlapping generations models. We characterize necessary conditions for obtaining a dividend, i.e. an improvement environmental and non-environmental welfare when revenue from pollution tax is recycled into change in labor rate. show that, depending on initial capital stock intertemporal elasticity substitution, may be defined to simultaneously allow (i) long term (ii) economy move closer modified golden rule (iii) short term, two present generations.