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Kazunori Nakajima
''Measurement of social net benefit of climate stabilization policy''
( 2010, Vol. 30 No.4 )
To evaluate the social welfare of climate stabilization policy from perspectives of cost–benefit analysis in a optimal economic growth framework based on macroeconomic theory, the purposes of this study are to show theoretically that the equivalent variation is divisible into a public-welfare effect, an income-change effect, and changes in investment in consideration of non-market effects of temperature change on utility. Then each effect of climate stabilization policy must be measured using simulation analysis. Consequently, it is concluded that the framework that this study has adopted is theoretically consistent with traditional cost-benefit framework and can measure each effect of climate stabilization policy.
Keywords: equivalent welfare measure, cost-benefit analysis, climate stabilization policy, macroeconomic model
JEL: Q5 - Environmental Economics: General
Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics: General
Manuscript Received : Oct 25 2010 Manuscript Accepted : Nov 18 2010

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