National Wealth and NNP and Natural Resources and National Wealth and NNP

Corresponding to current national wealth as discounted future optimal consumption (Weitzman [19761) we observe current national wealth to be the value of net accumulated stocks of capital. It follows that NNP can be interpreted as interest on national wealth. A constant value of wealth implies no net investment and NNP equals the value of consumption, the Hicksian notion of "income".


Issue Date:
1993-05
Publication Type:
Working or Discussion Paper
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/275226
Language:
English
Total Pages:
35
Series Statement:
IER No.884




 Record created 2018-07-19, last modified 2020-10-28

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