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National Accounting with Natural and Other Types of Capital

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  • John Hartwick

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Abstract

We do double-entry national accounting and incorporate zero profit arbitrageconditions (Euler equations) for different types of capital, includingnatural capital. In non-balanced growth, capital gains terms for capitalgoods appear in the income side of the accounts. Depreciation terms appearon the product or expenditure side. We consider renewable natural capital aswell as non-renewable of both durable and non-durable types. Copyright Kluwer Academic Publishers 2001

Suggested Citation

  • John Hartwick, 2001. "National Accounting with Natural and Other Types of Capital," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(4), pages 329-341, August.
  • Handle: RePEc:kap:enreec:v:19:y:2001:i:4:p:329-341
    DOI: 10.1023/A:1011692113965
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    References listed on IDEAS

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    1. Defourny, Jacques & Thorbecke, Erik, 1984. "Structural Path Analysis and Multiplier Decomposition within a Social Accounting Matrix Framework," Economic Journal, Royal Economic Society, vol. 94(373), pages 111-136, March.
    2. Martin L Weitzman, 1999. "A Contribution to the Theory of Welfare Comparisons," Harvard Institute of Economic Research Working Papers 1864, Harvard - Institute of Economic Research.
    3. Karl-Göran Mäler, 1991. "National accounts and environmental resources," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 1(1), pages 1-15, March.
    4. David Levhari & Robert S. Pindyck, 1981. "The Pricing of Durable Exhaustible Resources," The Quarterly Journal of Economics, Oxford University Press, vol. 96(3), pages 365-377.
    5. Richard Stone, 1951. "Simple Transaction Models, Information and Computing," Review of Economic Studies, Oxford University Press, vol. 19(2), pages 67-84.
    6. Hartwick, John M., 1992. "Endogenous growth with public education," Economics Letters, Elsevier, vol. 39(4), pages 493-497, August.
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    Cited by:

    1. Bostedt, Göran & Lundgren, Tommy, 2010. "Accounting for cultural heritage -- A theoretical and empirical exploration with focus on Swedish reindeer husbandry," Ecological Economics, Elsevier, vol. 69(3), pages 651-657, January.
    2. Werner Hediger, 2013. "From Multifunctionality and Sustainability of Agriculture to the Social Responsibility of the Agri-food System," Journal of Socio-Economics in Agriculture (Until 2015: Yearbook of Socioeconomics in Agriculture), Swiss Society for Agricultural Economics and Rural Sociology, vol. 6(1), pages 59-80.
    3. Hediger, Werner, 2008. "Agriculture’s Multifunctionality, Sustainability, and Social Responsibility," 82nd Annual Conference, March 31 - April 2, 2008, Royal Agricultural College, Cirencester, UK 36854, Agricultural Economics Society.
    4. Samakovlis, Eva, 2004. "Ecosystems, Sustainability and Growth for Sweden during 1991-2001," Occasional Papers 4, National Institute of Economic Research.

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