Environmental Preservation, Sectoral Unemployment, and Trade in Resources
This paper develops a general equilibrium model to examine the optimal level of environmental preservation in terms of its costs and benefits for a closed as well as an open economy. The optimal preservation policy for a closed economy is to tax the general population and use the tax revenue to compensate affected workers. Furthermore, for a small open economy, free trade in resources can meet whatever shortage of domestic productive resources that may occur, thereby leading to a higher optimal level of environmental preservation. Copyright 2000 by Blackwell Publishing Ltd
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Volume (Year): 4 (2000)
Issue (Month): 1 (February)
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