Author/Authors :
Chichilnisky، نويسنده , , Graciela; Heal، نويسنده , , Geoffrey; Beltratti، نويسنده , , Andrea ، نويسنده ,
Abstract :
We introduce a growth model with environmental assets as a source of utility and an input to consumption and production. In this model we develop the Green Golden Rule, a generalization of the golden rule of neoclassical growth theory. We apply this to the case where the object is the maximization of long-run or limiting utility rather than long-run consumption.
