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The Trade-off between Intra- and Intergenerational Equity in Climate Policy

Kverndokk, Snorre; Nævdal, Eric; Nøstbakken, Linda - CESifo - 2013

This paper focuses on two equity dimensions of climate policy, intra- and intergenerational, and analyzes the implications of equity preferences on climate policy, and on the production and consumption patterns in rich and poor countries. We develop a dynamic two-region model, in which each...

Persistent link: https://www.econbiz.de/10010877658

Recursive Sustainability: Intertemporal Efficiency and Equity

Knapp, Keith C. - Agricultural and Applied Economics Association - AAEA - 2006

PV-optimality in a capital-resource economy can imply decreasing utility over some portion of the time horizon. Various criteria have been proposed to maintain intergenerational equity defined as nondeclining utility, but these have some limitations and problems. This paper proposes a new...

Persistent link: https://www.econbiz.de/10005330154

Combining Rights and Welfarism: A New Approach to Intertemporal Evaluation of Social Alternatives

Long, Ngo Van; Martinet, Vincent - CESifo - 2012

We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...

Persistent link: https://www.econbiz.de/10009651182

Climate Policy under Sustainable Discounted Utilitarianism

Dietz, Simon; Asheim, Geir B. - CESifo - 2011

Empirical evaluation of policies to mitigate climate change has been largely confined to the application of discounted utilitarianism (DU). DU is controversial, both due to the conditions through which it is justified and due to its consequences for climate policies, where the discounting of...

Persistent link: https://www.econbiz.de/10009293489

A Complete and Strongly Anonymous Leximin Relation on Infinite Streams

Asheim, Geir B.; Zuber, Stéphane - CESifo - 2011

Various extensions of the leximin order to the infinite dimensional setting have been suggested. They relax completeness and strong anonymity. Instead, by removing sensitivity to generations at infinite rank this paper defines a complete and strongly anonymous leximin relation on infinite...

Persistent link: https://www.econbiz.de/10009294098

Trading Off Generations: Infinitely Lived Agent Versus OLG

Schneider, Maik T.; Traeger, Christian; Winkler, Ralph - CESifo - 2012

The prevailing literature discusses intergenerational trade-offs in climate change predominantly in terms of the Ramsey equation relying on the infinitely lived agent model. We discuss these trade-offs in a continuous time OLG framework and relate our results to the infinitely lived agent...

Persistent link: https://www.econbiz.de/10009649700

Sustainability and Discounted Utilitarianism in Models of Economic Growth

Asheim, Geir B.; Mitra, Tapan - CESifo - 2009

Discounted utilitarianism treats generations unequally and leads to seemingly unappealing consequences in some models of economic growth. Instead, this paper presents and applies sustainable discounted utilitarianism (SDU). SDU respects the interests of future generations and resolves...

Persistent link: https://www.econbiz.de/10005181313

Justifying Social Discounting: The Rank-Discounted Utilitarian Approach

Zuber, Stéphane; Asheim, Geir B. - CESifo - 2010

The discounted utilitarian criterion for infinite horizon social choice has been criticized for treating generations unequally. We propose an extended rank-discounted utilitarian (ERDU) criterion instead. The criterion amounts to discounted utilitarianism on non-decreasing streams, but it treats...

Persistent link: https://www.econbiz.de/10008671700

Fiscal Policy, Stabilization, and Growth: Prudence or Abstinence?

Werneck, Rogério L.F.; Irwin, Timothy; Sturzenegger, … - Inter-American Development Bank

Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects...

Persistent link: https://www.econbiz.de/10010943424

Automatic Stabilization and Fiscal Policy: Some Quantitative Implications for Latin America and the Caribbean

Espino, Emilio; Rozada, Martín González - Inter-American Development Bank - 2012

This paper provides an estimation of the size of income and demand automatic stabilizers in a representative sample of … size of income and demand automatic stabilizers coefficients is much smaller than the size of these coefficients in Europe … income stabilization coefficient and two others affecting directly the demand stabilization coefficient. The main results …

Persistent link: https://www.econbiz.de/10010943765