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Sectoral income

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  • Asheim , Geir B.

    ()
    (Dept. of Economics, University of Oslo)

  • Wei , Taoyuan

    ()
    (Dept. of Economics, University of Oslo)

Abstract

What is the income of each sector of an economy? E.g., in the case of a country endowed with petroleum resources, what is the income of its petroleum sector? Here we present a definition of sectoral income, which is compatible with an important line of theoretical literature on comprehensive national accounting. We do so first by splitting national income into individual income and then defining sectoral income by considering the contributions to individual income that the sectors give rise to.

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File URL: http://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/2007/Memo-23-2007.pdf
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Bibliographic Info

Paper provided by Oslo University, Department of Economics in its series Memorandum with number 23/2007.

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Length: 33 pages
Date of creation: 23 Oct 2007
Date of revision:
Handle: RePEc:hhs:osloec:2007_023

Contact details of provider:
Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Phone: 22 85 51 27
Fax: 22 85 50 35
Email:
Web page: http://www.oekonomi.uio.no/indexe.html
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Keywords: Sectoral income; comprehensive national accounting;

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References

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  1. Sefton, J. A. & Weale, M. R., 1996. "The net national product and exhaustible resources: The effects of foreign trade," Journal of Public Economics, Elsevier, vol. 61(1), pages 21-47, July.
  2. Asheim, Geir B., 2005. "Can NNP be used for welfare comparisons?," Memorandum 24/2005, Oslo University, Department of Economics.
  3. Asheim,G.B. & Weitzman,M.L., 2001. "Does NNP growth indicate welfare improvement?," Memorandum 02/2001, Oslo University, Department of Economics.
  4. Dasgupta, Partha, 2001. "Valuing Objects and Evaluating Policies in Imperfect Economies," Economic Journal, Royal Economic Society, vol. 111(471), pages C1-29, May.
  5. Kenneth Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "Evaluating Projects and Assessing Sustainable Development in Imperfect Economies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 26(4), pages 647-685, December.
  6. J Sefton & M Weale, 2005. "The Concept of Income in a General Equilibrium," NajEcon Working Paper Reviews 122247000000000844, www.najecon.org.
  7. Kjell Arne Brekke, 1997. "Hicksian Income from Resource Extraction in an Open Economy," Land Economics, University of Wisconsin Press, vol. 73(4), pages 516-527.
  8. John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers 220, Queen's University, Department of Economics.
  9. M. L. Weitzman, 1974. "On the Welfare Significance of National Product in Dynamic Economy," Working papers 125, Massachusetts Institute of Technology (MIT), Department of Economics.
  10. Asheim, Geir B, 1997. " Adjusting Green NNP to Measure Sustainability," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(3), pages 355-70, September.
  11. J. A. Sefton & M. R. Weale, 2006. "The Concept of Income in a General Equilibrium," Review of Economic Studies, Oxford University Press, vol. 73(1), pages 219-249.
  12. Pemberton, Malcolm & Ulph, David, 2001. " Measuring Income and Measuring Sustainability," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(1), pages 25-40, March.
  13. 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, Wiley Blackwell, vol. 47(3), pages 551-56, April.
  14. Dasgupta, Partha & M Ler, Karl-G Ran, 2000. "Net national product, wealth, and social well-being," Environment and Development Economics, Cambridge University Press, vol. 5(01), pages 69-93, February.
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Citations

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Cited by:
  1. Geir Asheim, 2013. "A Distributional Argument for Supply-Side Climate Policies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 56(2), pages 239-254, October.
  2. Wei, Taoyuan, 2013. "Comparing approaches to valuing sectoral net investments," Resource and Energy Economics, Elsevier, vol. 35(3), pages 316-328.
  3. Bram Edens, 2013. "Depletion: Bridging the Gap Between Theory and Practice," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 54(3), pages 419-441, March.
  4. Mohajan, Haradhan, 2011. "The Real Net National Product in Sustainable Development," MPRA Paper 50675, University Library of Munich, Germany, revised 20 Apr 2011.
  5. Taoyuan Wei, 2012. "Capital Gains and Income Arising from Nonrenewable Resources," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 52(2), pages 293-300, June.

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