How Environmental Pollution from Fossil Fuels can be included in measures of National Accounts and Estimates of Genuine Savings
In this paper, we examine means to incorporate the environmental effects of fossil fuel use into national accounts and genuine savings estimates. The main focus is on the rationales for the inclusion of carbon dioxide, and its appropriate price tag. We do this in the context of the pricing of historic carbon emissions in United Kingdom over the long run (from the onset of the industrial revolution to the present). Furthermore, we examine the reasonableness of taking into account other greenhouse gases than carbon dioxide. The global effects of carbon dioxide are compared to the local detrimental effects of the production and consumption of coal in the UK.
|Date of creation:||Jul 2012|
|Date of revision:|
|Contact details of provider:|| Postal: Division of Economics, University of Stirling, Stirling, Scotland FK9 4LA|
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Web page: http://www.econ.stir.ac.uk/
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- Ackerman, Frank & Stanton, Elizabeth A., 2012.
"Climate risks and carbon prices: Revising the social cost of carbon,"
Economics - The Open-Access, Open-Assessment E-Journal,
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- Hamilton, Kirk & Clemens, Michael, 1999. "Genuine Savings Rates in Developing Countries," World Bank Economic Review, World Bank Group, vol. 13(2), pages 333-56, May.
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