This paper summarizes assumptions made and results obtained in parts of the literature on welfare and sustainability accounting. I consider five di®erent assumptions that can be imposed independently of each other, producing 32 di®erent combinations. This taxonomy is used to organize results...

Following Arrow et al. (2003), this paper considers green national accounting when population is changing and instantaneous well-being depends not only on per capita consumption, but also population size. It is shown that welfare improvement can be indicated by an expanded “genuine savings...

Following Arrow et al. (2003), this paper considers green national accounting when population is changing and instantaneous well-being depends not only on per capita consumption, but also population size. It is shown that welfare improvement can be indicated by an expanded “genuine savings...

In the literature of comprehensive national accounts, national net investments are used to indicate dynamic welfare improvement in an economy. A well-known approach associates national net investments with the shadow value of change in stock of capital assets in an economy. Following this...

What is the income of each sector of an economy? E.g., in the case of a country endowed with petroleum resources, what is the income of its petroleum sector? Here we present a definition of sectoral income, which is compatible with an important line of theoretical literature on comprehensive...

We develop a framework for analyzing national income accounting using a revealed welfare approach that is sufficiently general to cover, e.g., both the standard discounted utilitarian and maximin criteria as special cases. We show that the basic welfare properties of comprehensive national...

We consider the question of how to integrate carbon emissions in comprehensive national accounts for the purpose of indicating whether countries' development is sustainable. We derive an expression for national saving which includes not only the national effect of current global emissions, but...

We consider the question of how to integrate carbon emissions in comprehensive national accounts for the purpose of indicating whether countries’ development is sustainable. We derive an expression for national saving which includes not only the national effect of current global emissions, but...

Choice experiments show that individuals attribute significant value to digitally-enabled services such as social media. We integrate this consumer value into an accounting framework by treating it as the value of own-account production by households of a particular type of leisure services....

In the paper we review the concept of national income and the economic theory of national income accounting. There are two building blocks - the ideas of Fisher, Lindahl, Hicks about income as an expenditure level that can be continued into the future, and the concept of income as a welfare...