Comprehensive NNP, Social Welfare, and the Rate of Return
AbstractWe show that growth in NNP measured in constant prices indicates welfare improvement, provided that an observable rate of return measure is positive. This is an alternative welfare interpretation of growth in comprehensive NNP compared with that of Asheim and Weitzman (2001, this journal) which is based on a Divisia con- sumer price index.
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Bibliographic InfoPaper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 640.
Length: 8 pages
Date of creation: 27 Sep 2004
Date of revision: 04 Dec 2006
Publication status: Published in Economic Letters, 2006, pages 254-259.
Contact details of provider:
Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
Phone: 090 - 786 61 42
Fax: 090 - 77 23 02
Web page: http://www.econ.umu.se/
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Comprehensive NNP; welfare measurement; the rate of return;
Other versions of this item:
- Li, Chuan-Zhong & Lofgren, Karl-Gustaf, 2006. "Comprehensive NNP, social welfare, and the rate of return," Economics Letters, Elsevier, vol. 90(2), pages 254-259, February.
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-10-18 (All new papers)
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.:
- Weitzman, Martin L, 1976.
"On the Welfare Significance of National Product in a Dynamic Economy,"
The Quarterly Journal of Economics,
MIT Press, vol. 90(1), pages 156-62, February.
- 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.
- 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.
- 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.
- Weitzman, Martin L, 2001. " A Contribution to the Theory of Welfare Accounting," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(1), pages 1-23, March.
- Asheim, Geir B. & Weitzman, Martin L., 2001.
"Does NNP growth indicate welfare improvement?,"
Elsevier, vol. 73(2), pages 233-239, November.
- 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.
- Heal, Geoffrey & Kristrom, Bengt, 2008. "A note on national income in a dynamic economy," Economics Letters, Elsevier, vol. 98(1), pages 2-8, January.
- Li, Chuan-Zhong & Isacsson, Gunnar, 2009. "Valuing urban accessibility and air quality in Sweden: A regional welfare analysis," Working Paper Series 2009:2, Uppsala University, Department of Economics.
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