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Welfare Measurement, Sustainability and Green National Accounting

A Growth Theoretical Approach Thomas Aronsson, Professor of Economics, Umeå University, Sweden, Per-Olov Johansson, Professor of Economics, Stockholm School of Economics, Sweden and Karl-Gustaf Löfgren, Professor of Economics, Umeå University, Sweden
One 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.
Extent: 192 pp
Hardback Price: $150.00 Web: $135.00
Publication Date: 1997
ISBN: 978 1 85898 485 8
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  • Economics and Finance
  • Environmental Economics
  • International Accounting
  • Welfare Economics
  • Environment
  • Environmental Economics
One 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.
‘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.’
– Helena Titheridge, Environmental Politics

‘The book mixes in a nice way the authors’ own research with the findings of others. The authors have made many important contributions to the field that the book covers, and it is useful to have these collected in a monograph. . . . This book is well-written, produced by experts in the field and can be recommended to anyone with a genuine interest in the problems of green national accounting.’
– G.B. Asheim, Journal of Economics

‘The book is good reading for those interested in microeconomic themes and particularly to those interested in intertemporal models of economic analysis. It provides considerable insight into the problems and importance of a social accounting process.’
– Tapan Biswas, The Economic Journal
Contents: 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