Sustainability in closed and open economies
AbstractThis paper discusses unilateral sustainability policies for tradable resources in closed and open economies. The effects of sustainability policies are modeled in an intertemporal, competitive framework by applying different sustainability rules which are introduced unilaterally in the domestic country. The paper shows that no sustainability rule will lead to a slower rate of extraction of the resource. Unilateral policies will lead to an "import of sustainability." It is also shown that the foreign country may well gain in terms of consumption and real income from such unilateral sustainability policies but not in terms of sustainability. Copyright 1998 by Blackwell Publishing Ltd.
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 741.
Date of creation: 1996
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