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- W2005675004 abstract "We examine a world in which policymakers' actions in a given country at a given time have long-lived effects on a common resource: the global environment. We consider the first best in which long-lived planners behave cooperatively, then examine the allocation of resources when there is non-cooperation across countries, across time, or both. Finally we analyze the dynamic behavior of the economy along balanced growth paths. It is found that while long-lived international institutions are necessary to internalize all externalities, cooperation at a point in time may be harmful to future generations." @default.
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- W2005675004 date "1997-09-01" @default.
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- W2005675004 title "International and Intergenerational Environmental Externalities" @default.
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- W2005675004 doi "https://doi.org/10.1111/1467-9442.00069" @default.
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