Abstract
In the paper, optimal growth theory is used to derive the appropriate definition of the net national product concept, when there are environmental resources and environmental damage to take into account. The basic conclusions are that conventional defined NP should be corrected by deducting environmental damage and adding the value of the net change of all resources.
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Mäler, KG. National accounts and environmental resources. Environmental and Resource Economics 1, 1–15 (1991). https://doi.org/10.1007/BF00305948
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DOI: https://doi.org/10.1007/BF00305948