Article
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Climate justice in an Intergenerational Sustainability Framework: A Stochastic OLG Model
Version 1
: Received: 25 November 2020 / Approved: 26 November 2020 / Online: 26 November 2020 (10:47:45 CET)
How to cite: Cisco, G.; Gatto, A. Climate justice in an Intergenerational Sustainability Framework: A Stochastic OLG Model. Preprints 2020, 2020110664. https://doi.org/10.20944/preprints202011.0664.v1 Cisco, G.; Gatto, A. Climate justice in an Intergenerational Sustainability Framework: A Stochastic OLG Model. Preprints 2020, 2020110664. https://doi.org/10.20944/preprints202011.0664.v1
Abstract
Climate justice as a commons is conceived as the intertemporal climate equity and equal- ity exchange amongst generations. Sustainability, intended as the interplay amongst the economy, the society, the environment, and the governance, is essential to forge the climate justice theoretical framework. On this base, the study attempts to model intertemporal choice amongst generations in these four domains, making use of an over- lapping generations (OLG) model. The proxies detected are GDP growth (economy), environmental quality (environment), and labor growth, and environmental investment (society) as assumptions. The governance dimension is captured by the di¤erence in wealth between young and old generations. The work aims at replying to the follow- ing research question: Which are the conditions for sustainable development such that climate justice holds? The intra-intergenerational exchange is de
ned in two periods, while the individual provides their preferred economic and environmental choice mix as consumption-saving. This study shows that sustainable growth is achievable only with increased young e¤ort and less leisure and consumption.
Keywords
Overlapping generation; Climate justice; Endogenous labor; OLG model; Intergenerational Sustainability
Subject
Business, Economics and Management, Accounting and Taxation
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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