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Economy-Wide Modeling, Environmental Macroeconomics, and Benefit-Cost Analysis
Land Economics ( IF 2.030 ) Pub Date : 2020-06-24 , DOI: 10.3368/le.96.3.305
V. Kerry Smith , Min Qiang Zhao

This paper develops a new method for evaluating benefit estimates prepared for major environmental rules and addresses three criticisms of existing practices: (1) using benefit estimates from the literature without adjusting for the conceptual differences underlying their meaning, (2) ignoring feedback effects of policy, and (3) failing to recognize the potential for economy-wide effects of large policies. Our approach adapts a general equilibrium framework characteristic of macroeconomic models and focuses on the effects of introducing nonmarket environmental services into the aggregate or “stand-in” preference function. Two recent policies illustrate how it can be used to assess economy-wide effects. (JEL D61, H41)

中文翻译:

经济范围建模、环境宏观经济学和收益-成本分析

本文开发了一种评估为主要环境规则准备的收益估计的新方法,并解决了对现有实践的三个批评:(1) 使用文献中的收益估计,而不调整其含义背后的概念差异,(2) 忽略政策的反馈效果,以及 (3) 未能认识到大型政策对整个经济的影响的潜力。我们的方法采用了宏观经济模型的一般均衡框架特征,并侧重于将非市场环境服务引入总体或“替代”偏好函数的影响。最近的两项政策说明了如何使用它来评估整个经济的影响。(JEL D61, H41)
更新日期:2020-06-24
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