Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/63007
Authors: 
Asheim, Geir B.
Year of Publication: 
2005
Series/Report no.: 
Memorandum, Department of Economics, University of Oslo 2005,24
Abstract: 
This paper contains a critical assessment of the claim that nnp can be used for welfare comparisons. The analysis assumes that national accounts are comprehensive (in particular, “greened” by taking into account environmental amenities and natural resource depletion), but does not assume optimal resource allocation. The general conclusion is that greater nnp does not correspond to welfare enhancement, unless the net investment flows are revalued. Real utility-nnp, and real measurable nnp made comparable across time by means of a consumer price index, allow for such revaluation, and thus indicate welfare improvement.
Subjects: 
National income accounting
dynamic welfare
JEL: 
C43
D60
O47
Q01
Document Type: 
Working Paper

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