The aim of this paper is to demonstrate the significant differences that would emerge in policy formulation, when environmental capital is explicitly accounted for in macroeconomic analyses. These differences are illustrated with reference to the Australian economy. The main analytic frameworks...

Economies heavily dependent on mineral resource extraction, need to evaluate the merits of investing the rents earned from such extraction in other income generating activities to sustain the flow of income and consumption. In this regard, it is important to estimate and assess the potential...

This paper presents a simple method for estimating environmental capital (KN) stock. The display employs the same metric as that used for manufactured capital (KM) stock in the statement of national accounts. The method is an adaptation the perpetual inventory method, but in a reverse order that...