It is usually supposed that price control and quantity control are symmetrical in an environmental policy when there is no uncertainty. Thus, an emission charge is as effective as the trade of emission rights or entitlements as a tool for emission control. We show that the two instruments are...

This paper analyses recycling of waste and downgrading of secondary resources using a classical type of production model represented by a Sraffian model. Residuals emitted as waste by households and secondary resources obtained by recycling of waste are negatively or positively priced, depending...

The author introduces an environmental restriction into the traditional two-sector growth model with two classes and analyzes how distributional variables, per capita consumption, and the growth rate are affected in the long-run if an economy is competitive. As an environmental restriction, the...

The wage-profit frontier is commonly used when the choice of technique is discussed. Though quite a few economists have explained why a point on the frontier is being chosen, the author has not found their explanations persuasive. He shows that the choice of technique, in terms of the...

This paper analyses recycling of waste and downgrading of secondary resources using a classical type of production model represented by a Sraffian model. Residuals emitted as waste by households and secondary resources obtained by recycling of waste are negatively or positively priced, depending...

The Frobenius eigenvector of a positive square matrix is obtained by iterating the multiplication of an arbitrary positive vector by the matrix. Brody (1997) noticed that, when the entries of the matrix are independently and identically distributed, the speed of convergence increases...