Description
Book SynopsisOne of the basic issues of accounting is to augment, or extend the conventional net national product measure so as to obtain a better indicator of welfare. This book extends the usual analysis of social accounting by including technological change, externalities and uncertainty.
This important new book analyses welfare measurement, sustainability and 'green accounting' within general equilibrium models. A large part of the book is devoted to welfare measurement in the presence of technological change and external effects which complicate 'green accounting' to a considerable extent. In addition to environmental externalities, the authors also discuss external effects arising from investments in human capital and their implications for welfare measurement. Other areas examined are welfare measurement under uncertainty and examples of cost-benefit analyses of environmental and other policies.
The book will be required reading for graduate students and professional economists interested in macroeconomics, environmental and resource economics.
Trade Review'This is definitely a book for graduate students and researchers in the field, as a large number of different economic theories are drawn upon. . . . The book is well structured; the reader is led through the concepts, issues and theories in a logical order, with each chapter leading neatly on from and building upon the ideas presented in the previous chapters.'Table of ContentsContents: 1. Introduction 2. Introducing Dynamic Models and Welfare Indices 3. A Dynamic General Equilibrium Model 4. Welfare Measures under Technological Change and Externalities 5. Human Capital – A Recent Issue in ‘Practical’ National Accounting 6. Sustainable Development and its Relation to Welfare Measures 7. A Smörgasbord of Topics 8. Welfare Measurement under Uncertainty 9. Afterwords References Index
