Sustainable growth with irreversible stock effects of renewable resources

- Stock effects of pollution is examined in a model of sustainable growth.
- Irreversible threshold of renewable resource stock is considered.
- Maximum critical level of initial emissions for sustainability is derived.
- Sustainability is feasible via pollution tax depending on the initial emissions.

This paper examines sustainability conditions when the stock effects of renewable resources prevail, and characterizes the maximal critical level of initial pollution emissions such that Pigovian tax alone ensures sustainable growth.