Capital accumulation of a firm facing en
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Richard F. Hartl; Peter M. Kort
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Article
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1996
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John Wiley and Sons
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English
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In this paper we consider the dynamic behaviour of a firm subject to environmental regulation. As a social planner the government wants to reduce the level of pollution. To reach that aim, it can, among other actions, set an upper limit on polluting emissions of the firm. The paper determines how th