On the interpretation of ‘green’ NNP measures as cost-benefit rules
In this paper we consider the possibility of using ‘green’ welfare change measures as the basis for cost-benefit analysis of new projects. Such green welfare change measures look very similar to what one would expect a cost-benefit analysis of the entire economy to look like. It is shown that although green welfare measures contain the shadow prices needed in the evaluation of a small new project, one must account for changes in these prices. Copyright Kluwer Academic Publishers 1996
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Volume (Year): 7 (1996)
Issue (Month): 3 (April)
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- 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.
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- M. L. Weitzman, 1974. "On the Welfare Significance of National Product in Dynamic Economy," Working papers 125, Massachusetts Institute of Technology (MIT), Department of Economics.
- Vellinga, Nico & Withagen, Cees, 1996. "On the Concept of Green National Income," Oxford Economic Papers, Oxford University Press, vol. 48(4), pages 499-514, October.
- Johansson, Per-Olov & Lofgren, Karl-Gustaf, 1995. "Wealth from optimal health," Journal of Health Economics, Elsevier, vol. 14(1), pages 65-79, May.
- Caputo, Michael R., 1990. "How to do comparative dynamics on the back of an envelope in optimal control theory," Journal of Economic Dynamics and Control, Elsevier, vol. 14(3-4), pages 655-683, October.
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