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Banzhaf, H. Spencer. |
This paper illustrates how public goods may be incorporated into a cost-of-living index. When public goods are weak complements to a market good, quality-adjusted prices for the market good capture all the welfare information required. They are also consistent with a Laspeyres index that maintains the bound on a true cost-of-living index. The paper recovers this information from a discrete-choice model, using a simulation routine to solve for the appropriate price adjustments. These concepts are applied to the case of housing, education, crime, and air quality in Los Angeles for 1989 to 1994. Over a period of time when they are improving, incorporating pubic goods into the index lowers the estimated change in the cost of living by 0.5 to 2.6 percentage... |
Tipo: Working or Discussion Paper |
Palavras-chave: Air quality; Discrete choice models; Green accounting; Nonmarket valuation; Price index; Public Economics; C51; D12; D60; E31; H40; R10. |
Ano: 2002 |
URL: http://purl.umn.edu/10833 |
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Boyd, James; Banzhaf, H. Spencer. |
This paper advocates consistently defined units of account to measure the contributions of nature to human welfare. We argue that such units have to date not been defined by environmental accounting advocates and that the term "ecosystem services" is too ad hoc to be of practical use in welfare accounting. We propose a definition, rooted in economic principles, of ecosystem service units. A goal of these units is comparability with the definition of conventional goods and services found in GDP and the other national accounts. We illustrate our definition of ecological units of account with concrete examples. We also argue that these same units of account provide an architecture for environmental performance measurement by governments, conservancies, and... |
Tipo: Working or Discussion Paper |
Palavras-chave: Environmental accounting; Ecosystem services; Index theory; Nonmarket valuation; Environmental Economics and Policy; Q51; Q57; Q58; D6. |
Ano: 2006 |
URL: http://purl.umn.edu/10586 |
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