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One-sided sustainability tests with amenities, and changes in technology, trade and population

Pezzey, John (Jack)

Description

If an economy with multiple consumption goods (including environmental amenities) uniquely maximises present value with constant discounting, it is unsustainable at some time if either of two measures - augmented net investment, or the change in augmented green net national product - are zero or negative then. "Augmented" denotes that time is treated as a productive stock, which includes in each measure the value of future, exogenous changes in technology or terms of trade. Adjustments are...[Show more]

CollectionsANU Research Publications
Date published: 2004
Type: Journal article
URI: http://hdl.handle.net/1885/79404
Source: Journal of Environmental Economics and Management
DOI: 10.1016/j.jeem.2003.10.002

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