We develop an overlapping generations growth model in which the individuals care about the environment. Many environmental policies suffer from institutional failures. We focus on the failure resulting from the delegation by the government of the exercise of the environmental policy to an...

Challenging the certainty that ecological preservation is incompatible with economic growth, Green Capital shifts the focus from the scarcity of raw materials to the deterioration of the great natural regulatory functions (such as the climate system, the water cycle, and biodiversity). While we...

Challenging the certainty that ecological preservation is incompatible with economic growth, Green Capital shifts the focus from the scarcity of raw materials to the deterioration of the great natural regulatory functions (such as the climate system, the water cycle, and biodiversity). While we...