期刊名称：DIW Diskussionspapiere / Deutsches Institut für Wirtschaftsforschung, Berlin
出版年度：2009
卷号：2009
出版社：Deutsches Institut für Wirtschaftsforschung, Berlin
摘要：Integrated assessment models lack a microeconomic foundation in modelling
environmental damages to the economy. To overcome this, damage coefficients are
incorporated in standard microeconomic models. Firms and consumers take both
damages and prices as given. Demand, supply, profit and expenditure functions
under damage coefficients are derived that allow easy implementation in applied
economic models through appropriate price distortions related to such
coefficients. For the consumer, Slutsky's equations are derived. The different
speeds of equilibrium adjustment in economic and climate models is reconciled in
the Recursive Equilibrium with Environmental Damages (REED). An exchange economy
and Robinson Crusoe economy illustrate our approach.
关键词：environmental damage, substitution effects, income effects, Slutsky's equations,
equilibrium
