The present paper gives an overview of the theory of green national accounting. Three purposes of green national accounting (measurement of sustainable income, social welfare or net social profit) and two measures (Green NNP and Hicksian income) are considered. It is argued that sustainable...

Weather influences our daily lives and choices and has an enormous impact on cooperate revenues and earnings. Weather derivatives differ from most derivatives in that the underlying weather cannot be traded and their market is relatively illiquid. The weather derivative market is therefore...

Biodiversity is often adversely affected by human activities. This reduces social welfare but may be external to private economic decisions. Consequently, these external effects on biodiversity need to be considered explicitly in economic models, which is only partly reflected in the literature....

This study uses the hedonic approach to measure the amenity value of climate in Germany. Unlike in earlier research separate hedonic wage and house price regressions are estimated for relatively small geographic areas and formal tests undertaken to determine whether the coefficients describing...

The study of natural catastrophe models plays an important role in the prevention and mitigation of disasters. After the occurrence of a natural disaster, the reconstruction can be financed with catastrophe bonds (CAT bonds) or reinsurance. This paper examines the calibration of a real...

Despite the increasing number of studies on self-reported happiness, due to data availability, only a few studies from developing countries exist. Moreover, even though climate is among the most important input to human activities, only a handfull of studies explicitly associate it with...

Foreign Direct Investment (FDI) is often identified as a driver of economic growth, although there is no consensus on this topic in the international empirical evidence regarding its effect on labor productivity. This document analyzes the effects of Foreign Direct Investment on labor...

Recent research in natural sciences shows that boreal forests' dynamics are much more complex than what many models traditionally used in forestry economics reflect. This essay analyses some challenges of accounting for such complexity. When forest owners continuously harvest several species,...

Coral reefs may naturally flip between coral-dominated and algae-dominated states, when species' stocks trespass some threshold levels. This essay uses a stylized model of a coral reef to show how fishing may induce flips towards more algae-dominated states. Threshold effects have consequences...

The concept of intermediation is central to current approaches to innovation policy. While the extant literature distinguishes between academia driven knowledge intermediaries supporting the commercialization of academic knowledge and public intermediaries focusing on the support of socio...