Global Environmental Economics, Softcover reprint of the original 1st ed. 1998

7. 2 Cumulative Pollutants and the Rate of Economic Growth 217 7. 3 Economic Growth in an Unregulated Economy 223 7. 4 Economic Growth in a Degrading Economy 231 7. 5 Economic Growth in the Spaceship Economy 237 7. 6 Dynamic Equilibrium in the Spaceship Economy 248 7. 7 An Evaluation of the Model and some Conclusions 254 7. 8 Some Long-Term Implications of the Model 256 References 258 Chapter 8: Optimal Economic Growth when CO Constraints are Critical 2 8. 1 Introduction 259 8. 2 Formulation of the Problem 260 8. 3 Derivation of the Necessary Conditions 264 8. 4 Analysis of the Necessary Conditions 265 8. 5 Conclusion 277 References 279 Chapter 9: Uncertainty. Value of Information and Greenhouse Gas Emissions 9. 1 Introduction 280 9. 2 An Illustrative Example - Evaluating a Climate Research and Monitoring Programme 282 293 9. 3 The Value of Information in a Stochastic Dynamic Programme 301 9. 4 Optimal Policies in a Stochastic Dynamic Programme 307 9. 5 Resource Costs and Critical Probabilities 9. 6 Conclusions 314 317 References 319 Epilogue 325 Index viii Preface The movement of carbon from sources to final disposition is known as the carbon cycle. The largest reservoir of carbon is in carbonate sediments such as limestone and chalk. Other significant but less stable reservoirs include fossil fuels, living and dead plants and animals, carbonates and bicarbonates dissolved in the ocean.

Preface. Introduction. 1. Issues of Global Environmental Economics. 2. Economic Models of Optimal Energy Use Under Environmental Constraints. 3. Uncertainty in Economic Models of Optimal Energy Use. 4. Long-Run Investment and Technical Progress: Dynamic and Vintage-Type Models. 5. Energy - Economy - Environmental Models with Special Reference to CO2 Emission Control. 6. A Simple Endogenous Model of Economic Activity and Climate Change. 7. Global Environmental Economics and Economic Growth. 8. Optimal Economic Growth when CO2 Constraints are Critical. 9. Uncertainty, Value of Information and Greenhouse Gas Emissions. 10. Decentralized Control of Greenhouse Gas Emissions: Co-ordination and Co-operation. Appendix A. Appendix B. Appendix C. References. Index.