کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
969046 1479467 2011 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
“A dynamic analysis of human welfare in a warming planet”
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
“A dynamic analysis of human welfare in a warming planet”
چکیده انگلیسی

Climate science indicates that climate stabilization requires low GHG emissions. Is this consistent with nondecreasing human welfare?Our welfare or utility index emphasizes education, knowledge, and the environment. We construct and calibrate a multigenerational model with intertemporal links provided by education, physical capital, knowledge and the environment.We reject discounted utilitarianism and adopt, first, the Pure Sustainability Optimization (or Intergenerational Maximin) criterion, and, second, the Sustainable Growth Optimization criterion, that maximizes the utility of the first generation subject to a given future rate of growth. We apply these criteria to our calibrated model via a novel algorithm inspired by the turnpike property.The computed paths yield levels of utility higher than the level at reference year 2000 for all generations. They require the doubling of the fraction of labor resources devoted to the creation of knowledge relative to the reference level, whereas the fractions of labor allocated to consumption and leisure are similar to the reference ones. On the other hand, higher growth rates require substantial increases in the fraction of labor devoted to education.


► Replaces discounted-utilitarian objective with ‘sustainable growth’.
► Calculates optimal paths which constrain CO2 concentration to low levels.
► Utility modeled as including consumption, leisure, education, knowledge and biospheric quality.
► Compares optimal paths to ones in which utility is consumption only.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Public Economics - Volume 95, Issues 11–12, December 2011, Pages 1607–1620
نویسندگان
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