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Sustainability policy and environmental policy

Pezzey, John (Jack)


A theoretical, representative-agent economy with a depletable resource stock, polluting emissions and productive capital is used to contrast environmental policy, which internalises externalised environmental values, with sustainability policy, which achieves some form of intergenerational equity. The obvious environmental policy comprises an emissions tax and a resource stock subsidy, each equal to the respective external cost or benefit. Sustainability policy comprises an incentive affecting...[Show more]

CollectionsANU Research Publications
Date published: 2004
Type: Journal article
Source: Scandinavian Journal of Economics
DOI: 10.1111/j.1467-9442.2004.00355.x


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