A New Conceptual Approach to the Measurement of Capital Gains, Depletion and Net National Product

R.J. Hill and T.P. Hill
Authors registered in the RePEc Author Service: Robert J. Hill (robert.hill@uni-graz.at)

Working Papers from New South Wales - School of Economics

Abstract: This paper establishes the theoretically appropriate definition and treatment of capital gains and depletion. Failure to distinguish capital gains on natural assets from depletion causes NNP to me mismeasured. For resource rich countries this can lead to large spurious fluctuations in NNP. In contrast, when depletion is measured correctly, NNP is no more volatile than GNP and provides a better indicator of both short term economic performance and long term sustainability.

Keywords: CAPITAL; INCOME; DEPLETION; ENVIRONMENT (search for similar items in EconPapers)
JEL-codes: O47 P44 Q32 (search for similar items in EconPapers)
Pages: 31 pages
Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:nesowa:99/9

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