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Measuring technical progress in gross and net products

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  • Pezzey, John C. V.

Abstract

On the optimal path of an economy with capital and non-renewable resource inputs, and constant returns output of consumption and investment, the rate of exogenous technical progress in net national product equals the rate of progress in (gross) production, divided by one minus the production elasticity of the resource flow.
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Suggested Citation

  • Pezzey, John C. V., 2003. "Measuring technical progress in gross and net products," Economics Letters, Elsevier, vol. 78(2), pages 247-252, February.
    • Handle: RePEc:eee:ecolet:v:78:y:2003:i:2:p:247-252
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    References listed on IDEAS

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    1. Martin L. Weitzman, 1976. "On the Welfare Significance of National Product in a Dynamic Economy," The Quarterly Journal of Economics, Oxford University Press, vol. 90(1), pages 156-162.
    2. Asheim, Geir B., 2000. "Green national accounting: why and how?," Environment and Development Economics, Cambridge University Press, vol. 5(1), pages 25-48, February.
    3. Asheim, Geir B. & Weitzman, Martin L., 2001. "Does NNP growth indicate welfare improvement?," Economics Letters, Elsevier, vol. 73(2), pages 233-239, November.
    4. Geir B. Asheim, 1997. "Adjusting Green NNP to Measure Sustainability," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(3), pages 355-370, September.
    5. Joseph Stiglitz, 1974. "Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 123-137.
    6. Martin L. Weitzman, 1997. "Sustainability and Technical Progress," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(1), pages 1-13, March.
    7. Asheim, Geir B, 1997. " Adjusting Green NNP to Measure Sustainability," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(3), pages 355-370, September.
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    Cited by:

    1. Mino, Kazuo, 2004. "On the Generalized Weitzman's Rule," MPRA Paper 16996, University Library of Munich, Germany.
    2. Mino, Kazuo, 2004. "Weitzman's rule with market distortions," Japan and the World Economy, Elsevier, vol. 16(3), pages 307-329, August.
    3. Patterson, Murray G., 2006. "Development of ecological economics in Australia and New Zealand," Ecological Economics, Elsevier, vol. 56(3), pages 312-331, March.
    4. Pezzey, J.C.V.John C. V., 2004. "One-sided sustainability tests with amenities, and changes in technology, trade and population," Journal of Environmental Economics and Management, Elsevier, vol. 48(1), pages 613-631, July.

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    More about this item

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General

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