Environmental Capital and Sustainable Income: Basic Concepts and Empirical Tests

Dodo J Thampapillai and Hans-Erik Uhlin

Cambridge Journal of Economics, 1997, vol. 21, issue 3, 379-94

Abstract: Building on the basic tenet of environmental accounting, a simple Keynesian framework is adapted for the determination of sustainable income. The adaptation involves the formulation of linear as well as nonlinear frameworks of income determination. These frameworks are empirically demonstrated for the U.S. economy by integrating standard macroeconomic data with macroenvironmental data. The analysis includes the derivation of sustainable income paths and the evaluation of wages and technology/management policies for jointly achieving full employment and sustainable income. The results indicate efficiency improvements in the utilization of environmental capital and possible convergence between the sustainable and actual income paths. Copyright 1997 by Oxford University Press.

Date: 1997
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