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Constant Utility Paths and Irreversible Global Warming

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Author Info
Kenneth Stollery
Abstract

This paper shows that the Hartwick rule for sustainable utility with depletable resources still applies to the case of the greenhouse effect from fossil fuel carbon emissions. Although a carbon tax is necessary, for sustainable utility it is sufficient that the sum of net energy rents and carbon tax revenues is invested in reproducible capital. Examination of recent savings rates and energy cost shares suggests that this may be difficult to achieve with current global savings rates.

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File URL: http://economics.ca/cgi/xms?jab=v31n3/11.pdf
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Publisher Info
Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 31 (1998)
Issue (Month): 3 (August)
Pages: 730-742
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Handle: RePEc:cje:issued:v:31:y:1998:i:3:p:730-742

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Find related papers by JEL classification:
Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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  1. Bazhanov, Andrei, 2008. "Sustainable growth: Compatibility between criterion and the initial state," MPRA Paper 9914, University Library of Munich, Germany. [Downloadable!]
  2. Bazhanov, Andrei, 2008. "Sustainable growth in a resource-based economy: the extraction-saving relationship," MPRA Paper 12350, University Library of Munich, Germany. [Downloadable!]
  3. Andrei V. Bazhanov, 2008. "Maximin-optimal sustainable growth with nonrenewable resource and externalities," EERI Research Paper Series EERI_RP_2008_11, Economics and Econometrics Research Institute (EERI). [Downloadable!]
    Other versions:
  4. Bazhanov, Andrei, 2008. "Sustainable growth: The extraction-saving relationship," MPRA Paper 9911, University Library of Munich, Germany. [Downloadable!]
  5. Grimaud, André & Magne, Bertrand & Rougé, Luc, 2009. "Polluting Non-Renewable Resources, Carbon Abatement and Climate Policy in a Romer Growth Model," IDEI Working Papers 548, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
  6. Bazhanov, Andrei, 2008. "Maximin-optimal sustainable growth in a resource-based imperfect economy," MPRA Paper 16245, University Library of Munich, Germany, revised 01 Aug 2009. [Downloadable!]
  7. Andrei V. Bazhanov, 2009. "A constant-utility criterion linked to an imperfect economy affected by irreversible global warming," EERI Research Paper Series EERI_RP_2009_03, Economics and Econometrics Research Institute (EERI). [Downloadable!]
  8. Bazhanov, Andrei & Belyaev, Alexander, 2009. "Адекватность Закрытой Модели Для Российской Экономики В Задаче Сравнительного Анализа Энергетической Стра�," MPRA Paper 15109, University Library of Munich, Germany. [Downloadable!]
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