search query: @freeterm RESOURCE BASED GROWTH / total: 1
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| Author: | Sörensen, A. Herbertsson, T. T. |
| Title: | Policy rules for exploitation of renewable resources: A macroeconomic perspective |
| Journal: | Environmental and Resource Economics
1998 : JUL, VOL. 12:1, p. 53-76 |
| Index terms: | ENVIRONMENTAL ECONOMICS NATURAL RESOURCES GROWTH |
| Freeterms: | RESOURCE BASED GROWTH RESOURCE RENT PROBLEM OF THE COMMONS |
| Language: | eng |
| Abstract: | For an economy based on a common property, a fundamental problem is the absence of a market to trade the resource, which implies that private costs will be below social costs. This study investigates possible government interventions that correct for such distortions in a neoclassical growth model with a production externality in harvesting. The model predicts that the welfare of the representative household increases whne a Piguovian tax is implemented. The policy that replicates the command optimum is highly complex and changes over time. |
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