National accounts and environmental resources
In the paper, optimal growth theory is used to derive the appropriate definition of the net national product concept, when there are environmental resources and environmental damage to take into account. The basic conclusions are that conventional defined NP should be corrected by deducting environmental damage and adding the value of the net change of all resources. Copyright Kluwer Academic Publishers 1991
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Volume (Year): 1 (1991)
Issue (Month): 1 (March)
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- M. L. Weitzman, 1974.
"On the Welfare Significance of National Product in Dynamic Economy,"
125, Massachusetts Institute of Technology (MIT), Department of Economics.
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- John M. Hartwick, 1990. "Natural Resources, National Accounting and Economic Depreciation," Working Papers 771, Queen's University, Department of Economics.
- John M. Hartwick, 1978. "Substitution Among Exhaustible Resources and Intergenerational Equity," Review of Economic Studies, Oxford University Press, vol. 45(2), pages 347-354.
- Avinash Dixit & Peter Hammond & Michael Hoel, 1980. "On Hartwick's Rule for Regular Maximin Paths of Capital Accumulation and Resource Depletion," Review of Economic Studies, Oxford University Press, vol. 47(3), pages 551-556.
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