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We analyze a problem of maximization of expected terminal wealth and consumption under constraints in a general framework including financial models with constrained portfolios, labor income and large investor models. By using general optional decomposition under constraints in a multiplicative...
Persistent link: https://www.econbiz.de/10005134845
environment and the economic policy decisions. We also address the consequences and plausible explanations for the different …
Persistent link: https://www.econbiz.de/10005556858
If, in international agreements, governments “link'' trade to environmental policy (or other issues with non-pecuniary externalities), will this promote more cooperation in both policies or will cooperation in one policy be strengthened at the expense of the other? We analyze this question in...
Persistent link: https://www.econbiz.de/10005124914
Persistent link: https://www.econbiz.de/10005125982
To help explain some of the issues and examine the potential environmental impacts (positive and/or negative) of selected tax arrangements, the Productivity Commission sought advice from Robert Douglas, a specialist in the field. This consultant’s report makes a contribution to understanding...
Persistent link: https://www.econbiz.de/10005062504
Development (ESD). ESD requires decision-makers to take into account economic development, the environment and social factors in …
Persistent link: https://www.econbiz.de/10005407782
Ecosystem services are the functions performed by ecosystems that lead to desirable environmental outcomes, such as air and water purification, drought and flood mitigation, and climate stabilisation. Markets rarely exist for them. This study examines how newly defined property rights have been...
Persistent link: https://www.econbiz.de/10005407849
Many production processes yield both good outputs and undesirable ones (e.g. pollutants). In this paper, we develop a generalization of a stochastic frontier model which is appropriate for such technologies. We discuss efficiency analysis and, in particular, define technical and environmental...
Persistent link: https://www.econbiz.de/10005407943
investment may come to a region or country where environment protection norms are less strict. Investors may be induced to … transient nature, the phasing out of such a pollution haven regime is typically dependent upon the active institutional … alternative production possibilities that help design prudent environmental policy regime. Also it searches for the right kind of …
Persistent link: https://www.econbiz.de/10005408033
its probable success given future trends and its impacts on the human and natural environment. Forecasting, by which I …
Persistent link: https://www.econbiz.de/10005408087