On international compensations for environmental stocks

Frank Stähler

No 580, Kiel Working Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: This paper sheds some light on the possible implications of compensations which are paid for the maintenance of an environmental stock. It shows that serious complications can arise if the resource-owner can vary the compensation price. In that case, extraction-driven stock preservation policies can conflict with compensation-driven ones and imply instability. Whether compensation policies can neglect this aspect depends crucially on the credibility of sticky compensation prices.

JEL-codes: D43 Q20 (search for similar items in EconPapers)
Date: 1993
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Journal Article: On International compensations for environmental stocks (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:580

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