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A Dynamic Price Index Theory for Deflating green NNP: An Illustrative Application Using Data from the United States
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
2015 (English)In: Environmental Economics, ISSN 1998-6041, E-ISSN 1998-605XArticle in journal (Refereed) Epub ahead of print
Abstract [en]

This paper is concerned with the welfare significance of real comprehensive NNP based on an exact dynamic price index. We extend the Konus classical index number theory by taking into account current environmental externalities and investment for future consumption enhancement. It is shown that, when deáated with the proper dynamic price index, the real green NNP becomes an ideal measure for welfare comparisons over time. We demonstrate the application of the theory using time series data from the United States over the period from 1959 to 2008.

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Keyword [en]
Green NNP, growth, price index, sustainability
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URN: urn:nbn:se:umu:diva-124776OAI: diva2:956688
Available from: 2016-08-31 Created: 2016-08-24 Last updated: 2016-08-31

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Löfgren, Karl-Gustaf
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