We compare three different views on the long run efficiencies of emission taxes which include thresholds, and of tradable emission permits where some permits are initially free. The differences are caused by different assumptions about whether thresholds and free permits should be subsidies...

A theoretical, representative agent economy with a depletable resource stock, polluting emissions and productive capital is used to contrast environmental policy, which internalises externalised environmental values, with sustainability policy, which achieves some form of intergenerational...

Uncertainty is an obstacle for commitments under cap and trade schemes for emission permits. We assess how well intensity targets, where each country's permit allocation is indexed to its future realised GDP, can cope with uncertainties in international greenhouse emissions trading. We present...

On the optimal path of an economy with capital and non-renewable resource inputs, and constant returns output of consumption and investment, the rate of exogenous technical progress in net national product equals the rate of progress in (gross) production, divided by one minus the production...

We extend the Brander-Taylor model of population and resource development in an isolated society by adding a resource subsistence requirement to people's preferences. This improves plausibility; amplifies population overshoot and collapse, and makes the steady state less stable; and allows for...

A representative agent economy with a resource stock, polluting emissions, productive, abatement and foreign capital, trade, and technical progress, is used to contrast environmental policy, which internalises amenity and productivity values, with sustainability policy, which achieves some form...

Uncertainty is an obstacle for commitments under cap and trade schemes. We assess how well intensity targets, where countries' permit allocations are indexed to future realised GDP, can cope with uncertainties in international greenhouse emissions trading. We present some empirical foundations...

We compare a tax with thresholds (‘prices’), and tradable permits (‘quantities’), as mechanisms to control total ‘emissions’ (or other inputs or outputs) from heterogeneous parties with uncertainties in emissions, costs and benefits. The advantage of prices over quantities is much...

We estimate and compare two empirical measures of the weak sustainability of an economy for the first time: the change in augmented green net national product (GNNP), and the interest on augmented genuine savings (GS). Yearly calculations are given for each measure for Scotland during 1992-99....

Uncertainty can hamper the stringency of commitments under cap and trade schemes. We assess how well intensity targets, where countries' permit allocations are indexed to future realised GDP, can cope with uncertainties in a post-Kyoto international greenhouse emissions trading scheme. We...