Intergenerational modelling of the greenhouse effect
AbstractA major implication of global climate change is that future generations will suffer severe damages while the current generation benefits. In this paper a model is developed to analyze the potential need for mitigating the adverse impacts of the greenhouse effect on efficiency grounds. The model characterises basic transfers, investigate the effect of greenhouse emissions, and analyze exogenous and endogenous uncertainty. The first (or current) generation faces the problem of dividing available resources amongst current consumption and transfers to future generations. A two-period model is presented in which the first generation may achieve beneficial transfers to the second by investment in capital (I), in technology (T), or by a direct bequest of final goods (B) and/or by leaving fossil fuel stocks undepleted.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 40000.
Date of creation: Jan 1994
Date of revision:
climate change; future generations; resource depletion; uncertainty; ethics; intergenerational transfers; equity; efficiency; optimisation modelling;
Other versions of this item:
- Clive L Spash, 1994. "Intergenerational Modelling of the Greenhouse Effect," Working Papers Series 94/3, University of Stirling, Division of Economics.
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Costs; Distributional Effects; Employment Effects
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
- Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
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.:
- Hartwick, John M, 1977.
"Intergenerational Equity and the Investing of Rents from Exhaustible Resources,"
American Economic Review,
American Economic Association, vol. 67(5), pages 972-74, December.
- John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers 220, Queen's University, Department of Economics.
- Cropper, M. L., 1976. "Regulating activities with catastrophic environmental effects," Journal of Environmental Economics and Management, Elsevier, vol. 3(1), pages 1-15, June.
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