The net national product and exhaustible resources: the effects of foreign trade

Article Abstract:

National income and its association to national welfare are evaluated, and welfare income is defined as the diminished future product value of interest rate and consumption given a selected future consumption path. It is demonstrated that excess income should be attributed to the resource-owning nation based on exportable resource stock. A portion of the net adjustment for use of the resource is made to the income of the resource-consuming rather than the resource-producing nation.

National Income, Evaluation, International trade, Production functions (Economics), Input-output analysis

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Bankable permits for the control of environmental pollution

Article Abstract:

An analysis of emissions credit trading schemes reveals that pollution credits may be treated as bankable credits that are discounted over time so as to allow private and social solutions to converge. Credit trading has been seen as an alternative to cutting down pollution abatement compliance costs but has been seen as detrimental in the long run. Firms may still avail of pollution credit banking schemes so long as they are discounted over time to compensate for time differences.

Financial Mgmt NEC, Methods, Management, Emissions credit trading, Emissions trading, Financial management, Credit management

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Natural resources, national accounting, and economic depreciation: stock effects

Article Abstract:

This paper expands upon J. Hartwick's 1990 research that considers how to explicitly incorporate natural resources depletion into standard national income accounting. He argues for the deduction of natural resource asset depreciation from the Gross National Product to arrive at a correct estimate of the Net National Product. This paper describes methods of accounting for the durability of exhaustible resources, uncertainty and pollution stock disutility.

Noncommercial research organizations, Natural resources

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