Abstract
The idea of measuring the national welfare level by using the green NNP (net national product) has gained much attention lately. This paper summarizes the research on social accounting in imperfect market economies by putting the results into a unified framework. The main contribution of the paper is to relate the form of the national welfare measure to the functioning of the economic system and, therefore, to explicitly address the informational requirements implicit in social accounting.
Similar content being viewed by others
References
Aronsson, T. (1998a), ‘Welfare Measurement, Green Accounting and Distortionary Taxes’, The Journal of Public Economics, forthcoming.
Aronsson, T. (1998b), ‘A Note on Social Accounting and Unemployment’, Economics Letters, forthcoming.
Aronsson, T., P-O. Johansson and K-G. Löfgren (1997), Welfare Measurement, Sustainability and “Green” National Accounting – A Growth Theoretical Approach. Cheltenham, UK: Edward Elgar.
Aronsson, T. and K-G. Löfgren (1993) ‘Welfare Consequences of Technological and Environmental Externalities in the Ramsey Growth Model’, Natural Resource Modeling 7, 1–14.
Aronsson, T. and K-G. Löfgren (1995), ‘National Product Related Welfare Measurement in the Presence of Technological Change, Externalities and Uncertainty’, Environmental and Resource Economics 5, 321–332.
Aronsson, T. and K-G. Löfgren (1996), ‘Social Accounting and Welfare Measurement in a Growth Model with Human Capital’, The Scandinavian Journal of Economics 98, 185–201.
Asheim, G. (1994) ‘Capital Gains and “Net National Product” in Open Economies’, Journal of Public Economics 59, 419–434.
Asheim, G. (1997), ‘Adjusting Green NNP to Measure Sustainability’, The Scandinavian Journal of Economics 99, 355–370.
Bovenberg, L. and S. Smulders (1996), ‘Transitional Impacts of Environmental Policy in an Endogenous Growth Model’, International Economic Review 37, 861–892.
Brock, W. (1977), ‘A Polluted Golden Age’, in V. L. Smith, ed., Economics of Natural and Environmental Resources. New York: Gorden and Breach.
Hartwick, J. (1990), ‘Natural Resources, National Accounting and Economic Depreciation’, Journal of Public Economics 43, 291–304.
Hultkrantz, L. (1992), ‘National Accounts of Timber and Forest Environmental Resources’, Environmental and Resource Economics 2, 283–305.
Kemp, M. C. and N. V. Long (1982), ‘On the Evolution of Social Income’, in G. R. Fiewel, ed., In Samuelson and Neoclassical Economics, Chapter 12. Nijhoff: Kluwer.
Löfgren, K-G. (1992), ‘Comment on C. R. Hulten, Accounting for the Wealth of Nations’, The Scandinavian Journal of Economics 94, 25–28 (supplement).
Löfgren, K-G. (1994), ‘Monopoly Union Wage Setting and the Evaluation of Public Projects: An Intertemporal General Equilibrium Approach’, Labour 8, 57–77.
Michel, P. (1982), ‘On the Transversality Conditions in Infinite Horizon Optimal Control Problems’, Econometrica 50, 975–985.
Mäler, K-G. (1991), ‘National Accounts and Environmental Resources’, Environmental and Resource Economics 1, 1–15.
Peskin, H. M. and J. Peskin (1978), ‘The Valuation of Nonmarket Goods in Income Accounting’, The Review of Income and Wealth 24, 71–91.
Repetto, R., M. Magrath, M. Wells, C. Beer and F. Rossini (1989), Wasting Assets: Natural Resources in the National Income Accounts. Washington DC: World Resources Institute.
Seierstad, A. and K. Sydsaeter (1987), Optimal Control Theory with Economic Applications. Amsterdam: North-Holland.
Tahvonen, O. and J. Kuuluvainen (1993), ‘Economic Growth, Pollution and Renewable Resources’, Journal of Environmental Economics and Management 24, 101–118.
U. S. Environmental Protection Agency (1991), Environmental Investments: The Cost of a Clean Environment. Washington DC: Island Press.
Weitzman, M. L. (1976), ‘On the Welfare Significance of National product in a Dynamic Economy’, The Quarterly Journal of Economics 90, 156–162.
Weitzman, M. L. (1997), ‘Sustainability and Technical Progress’, The Scandinavian Journal of Economics 99, 1–13.
Weitzman, M. L. and K-G. Löfgren (1997), ‘On the Welfare Significance of Green Accounting as a thought Parable’, Journal of Environmental Economics and Management 32, 139–153.
Vincent, J. and J. Hartwick (1997), Forest Resources and the National Income Accounts: Concepts and Experience. Harvard University.
Author information
Authors and Affiliations
Rights and permissions
About this article
Cite this article
Aronsson, T., Löfgren, KG. Green Accounting in Imperfect Market Economies. Environ Resource Econ 11, 273–287 (1998). https://doi.org/10.1023/A:1008253831365
Issue Date:
DOI: https://doi.org/10.1023/A:1008253831365