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Can NNP be used for welfare comparisons?

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Author Info
ASHEIM, GEIR B.

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Abstract

This paper contains a critical assessment of the claim that NNP can be used for welfare comparisons. The analysis assumes that national accounts are comprehensive (in particular greened by taking into account environmental amenities and natural resource depletion), but does not assume optimal resource allocation. The general conclusion is that greater NNP corresponds to welfare enhancement only if net investment flows are revalued. Real utility-NNP and real measurable NNP made comparable across time by means of a consumer price index allow for such revaluation, and thus indicate welfare improvement.

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File URL: http://journals.cambridge.org/abstract_S1355770X06003366
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Publisher Info
Article provided by Cambridge University Press in its journal Environment and Development Economics.

Volume (Year): 12 (2007)
Issue (Month): 01 (February)
Pages: 11-31
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:cup:endeec:v:12:y:2007:i:01:p:11-31_00

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Martin L. Weitzman, 1970. "Aggregation and Disaggregation in the Pure Theory of Capital and Growth: A New Parable," Cowles Foundation Discussion Papers 292, Cowles Foundation, Yale University. [Downloadable!]
  2. Kenneth Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "Evaluating Projects and Assessing Sustainable Development in Imperfect Economies," Working Papers 2003.109, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
  3. Asheim, Geir B. & Weitzman, Martin L., 2001. "Does NNP growth indicate welfare improvement?," Economics Letters, Elsevier, vol. 73(2), pages 233-239, November. [Downloadable!] (restricted)
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  4. Weitzman, Martin L, 2001. " A Contribution to the Theory of Welfare Accounting," Scandinavian Journal of Economics, Blackwell Publishing, vol. 103(1), pages 1-23, March. [Downloadable!] (restricted)
  5. Dixit, Avinash & Hammond, Peter & Hoel, Michael, 1980. "On Hartwick's Rule for Regular Maximin Paths of Capital Accumulation and Resource Depletion," Review of Economic Studies, Blackwell Publishing, vol. 47(3), pages 551-56, April. [Downloadable!] (restricted)
  6. Asheim, Geir B., 2005. "Welfare comparisons between societies with different population sizes and environmental characteristics," Memorandum 25/2005, Oslo University, Department of Economics. [Downloadable!]
  7. Geir B. Asheim & Wolfgang Buchholz, 2004. "A General Approach to Welfare Measurement through National Income Accounting," Scandinavian Journal of Economics, Blackwell Publishing, vol. 106(2), pages 361-384, 06. [Downloadable!] (restricted)
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  8. Pezzey, John C V & Withagen, Cees A, 1998. " The Rise, Fall and Sustainability of Capital-Resource Economies," Scandinavian Journal of Economics, Blackwell Publishing, vol. 100(2), pages 513-27, June. [Downloadable!] (restricted)
  9. Dasgupta, Partha, 2001. "Valuing Objects and Evaluating Policies in Imperfect Economies," Economic Journal, Royal Economic Society, vol. 111(471), pages C1-29, May. [Downloadable!] (restricted)
  10. R. M. Solow, 1973. "Intergenerational Equity and Exhaustable Resources," Working papers 103, Massachusetts Institute of Technology (MIT), Department of Economics.
  11. Asheim, Geir, 2003. "Green national accounting for welfare and sustainability: A taxonomy of assumptions and results," Memorandum 31/2002, Oslo University, Department of Economics. [Downloadable!]
    Other versions:
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Geir Asheim & Taoyuan Wei, 2009. "Sectoral Income," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(1), pages 65-87, January. [Downloadable!] (restricted)
    Other versions:
    • Asheim , Geir B. & Wei , Taoyuan, 2007. "Sectoral income," Memorandum 23/2007, Oslo University, Department of Economics. [Downloadable!]
  2. Mota, Rui Pedro & Domingos, Tiago & Martins, Victor, 2008. "Analysis of green net national product and genuine saving in Portugal, 1991 - 2005," MPRA Paper 13347, University Library of Munich, Germany. [Downloadable!]
  3. Partha Dasgupta, 2009. "The Welfare Economic Theory of Green National Accounts," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(1), pages 3-38, January. [Downloadable!] (restricted)
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This page was last updated on 2009-11-25.

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