We first construct a theoretical model of a regional economy with two sectors. One sector uses physical and creative capital - in the sense of Richard Florida (2002) - to produce a knowledge good that is traded. The other sector uses physical and social capital to produce a good that is not...

We first construct a theoretical model of a regional economy with two sectors. One sector uses physical and creative capital - in the sense of Richard Florida (2002) - to produce a knowledge good that is traded. The other sector uses physical and social capital to produce a good that is not...

We study the environmental and economic effects of public abatement in the presence of multiple stable steady-state ecological equilibria. Under shallow-lake dynamics (SLD), the isocline for the stock of pollution features two stable branches, a good and a bad one. Assuming that the ecology is...

This paper is concerned with the theory of resilience pricing and sustainability measurement in the presence of risk for regime shift in a dynamic economy-environment system. Following Holling (1973),we consider resilience as the maximal perturbation that the system can absorb without flipping...

We study the environmental and economic effects of public abatement in the presence of multiple stable steady-state ecological equilibria. Under shallow-lake dynamics (SLD), the isocline for the stock of pollution features two stable branches, a good and a bad one. Assuming that the ecology is...