Abstract

http://ssrn.com/abstract=291347
 
 

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National Income and the Environment


Geoffrey M. Heal


Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)

Bengt Kriström


University of Umea - Centre for Environmental and Resource Economics (CERE)


Forthcoming in Handbook of Environmental Economics, 2002

Abstract:     
In the paper we review the concept of national income and the economic theory of national income accounting. There are two building blocks - the ideas of Fisher, Lindahl, Hicks about income as an expenditure level that can be continued into the future, and the concept of income as a welfare measure that emerges from the welfare economics and general equilibrium of the 1950s and 1960s. The former have led to an extensive literature on the use of Hamiltonians or their first order approximations as an income measure. After reviewing this body of theory and the connections between the concepts, we suggest extensions and then consider how various proposed green accounting systems match up to the theoretical desiderata. We also review a number of empirical applications. We devote considerable space to the United Nations' proposed System of Economic and Environmental Accounts, and to accounting reforms proposed by the statistical offices of various countries.

Keywords: National income, green accounting, Hamiltonian, welfare economics, Hicksian income, environmental accounting

JEL Classification: D60, D63, D90, Q01

Accepted Paper Series


Not Available For Download

Date posted: November 27, 2001  

Suggested Citation

Heal, Geoffrey M. and Kriström, Bengt, National Income and the Environment. Forthcoming in Handbook of Environmental Economics, 2002. Available at SSRN: http://ssrn.com/abstract=291347

Contact Information

Geoffrey M. Heal (Contact Author)
Columbia Business School - Finance and Economics ( email )
3022 Broadway
New York, NY 10027
United States
212-854-6459 (Phone)
212-316-9219 (Fax)
HOME PAGE: http://www.gsb.columbia.edu/faculty/gheal/

National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Bengt Kriström
University of Umea - Centre for Environmental and Resource Economics (CERE) ( email )
S-901 83 Umea
Sweden
+46-(0)90-7865219 (Phone)
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