the dynamic effects of government spending policies in a two sector endogenous growth model this paper investigates the impact of government spending policies in a two sector model of endogenous growth endogenous growth arises because all factors of production physical and human capital are reproducible both temporary and permanent government spending shocks are examined the model implies that a permanent lump sum financed increase in government spending raises the long run growth rate this occurs because the negative wealth effects of a spending increase will increase labor supply on the other hand an income tax or wage tax financed rise in government spending reduces the growth rate the output effects of a temporary increase in government spending may be greater or less than a permanent increase in spending copyright 1995 by ohio state university press

supply side interventions and redistribution we evaluate the eect on welfare of shifting the burden of capi tal income taxes to labor taxes in a dynamic equilibrium model with heterogeneous agents and constant tax rates we calibrate and simu late the economy we nd that lowering capital taxes has two eects i it increases e ciency in terms of aggregate production and ii it redistributes wealth in favor of those agents with a low wage wealth ratio when the parameters of the model are calibrated to match the distribution of income in terms of the wage wealth ratio the redis tributive eect dominates and agents with a high wage wealth ratio would experience a large loss in utility if capital income taxes were eliminated

increasing the capital income tax may lead to faster growth this paper shows that under rather mild conditions higher capital income taxes lead to faster growth in an overlapping generations economy with endogenous growth government expenditures are financed with labor income taxes as well as capital income taxes since capital income accrues to the old taxing it reliefs the tax burden on the young and leaves them with more income out of which to save we argue that savings are sufficiently interest inelastic so that higher savings and therefore higher growth result the basic argument is not seriously challenged by a grandfather clause for initial capital or by the old receiving some labor income as well the reasoning is similar to feldstein 1978 auerbach 1979 and in particular jones and manuelli 1992 but in contrast to the conventional wisdom about the effect of capital income taxation as say in lucas 1990

productivity and environmental costs from intensification of farming a panel data analysis across eu regions this paper addresses the need of finding new ways of measuring the environmental and economic consequences of farming the aim of this study is to inquire into the impacts that excessive intensification has on productivity and environmental costs in the long term and additionally to explore empirically the trend of these two indicators over time the contribution of this paper is to perform an empirical study of the trends of productivity and environmental costs of farming in the long term to this end this paper performs a panel data analysis of productivity and environmental costs on a farm accounting database across european regions over the 1989 2009 period the models proposed take i farm output per hectare as indicator of productivity and ii expenditures on energy pesticides and fertilisers per hectare as proxy indicators of environmental costs results provide empirical evidence that the regions under study have a negative trend of productivity and a positive trend of environmental costs over the time frame mentioned these results correlate negatively with both economic and environmental sustainability of farms arguably this is aggravated in the latter due to hidden environmental costs valued at zero in traditional accounting

optimal taxation in models of endogenous growth we study the problem of optimal taxation in three infinite horizon representative agent endogenous growth models the first model is a convex model in which physical and human capital are perfectly symmetric our second model incorporates elastic labor supply through a lucas style technology analysis of these two models points out the danger of assuming that government expenditures are exogenous in our third model we include government expenditures as a productive input in capital formation showing that the limiting tax rate on capital is no longer zero in numerical simulations we find similar effects on growth and welfare in all three models

environmental management accounting in lithuania exploratory study of current practices opportunities and strategic intents abstract there is a growing consensus among the lithuanian policy makers practitioners and industrialists that environmental policy must move from a reactive stance to a more proactive sustainable development approach as a result many companies are increasingly interested in the application of economic incentives at least as supplements or reinforcements of environmental standards the institute of environmental engineering eu centre of excellence in sustainable industrial development apini sid in 1992 2003 has been involved in introduction and implementation of preventive environmental strategy in industry in lithuania and in other countries in lithuania these efforts resulted in the implementation of more than 200 cleaner production innovations in more than 150 lithuanian companies it should be stressed that effective plant maintenance is becoming a higher priority to plant managers it is important to ensure cost savings at all levels that include maximizing productivity and implementing energy saving approaches effective and efficient maintenance are not just desirable but fundamental to profitable business operations therefore central to the environmental view of sustainable development is the concept that economic and social systems are sub systems of the global environment apini s experience shows that decision makers at the company level often fail to recognize the economic values of natural resources as assets as well as the business and financial value of good environmental performance therefore there is a need to upgrade the business decision making process by including information on material flows and related costs to account for efforts of sustainable development staniskis jk stasiskiene z promotion of cleaner production investments international experience journal of cleaner production 2002 11 6 619 28 issn 0959 6526 elsevier science decisions are increasingly affected by environmental costs application of environmental management accounting ema which integrates two of the main principles of sustainable development environment and economics can help to significantly improve corporate decision making ema is becoming increasingly important not only for environmental management decisions and development of environmental management systems ems but also for all types of routine management activities such as product and process design cost allocation and control capital budgeting purchasing product pricing and performance evaluation companies which use ema as a part of integrated management system are provided with accurate and comprehensive information for the measurement and reporting of environmental performance this paper investigates the current state of ema practices in lithuanian smes that have already been or are being implementing ems and which have implemented cp innovations in this case ema is analysed as an innovative assessment and evaluation method of ems and cp innovation s environmental impacts and economic benefits it should be stressed that there are obvious differences in case studies from different industries however review of the results shows that there are many similarities in what improvements can be suggested for environmentally concerned companies both in terms of environmentally sound operation and for reporting of environmental management accounting information

public spending on education and the incentives for student achievement we build a model where homogeneous workers can accumulate human capital by investing in education schools combine public resources and individual effort to generate productive skills if skills are imperfectly compensated then in equilibrium students may under invest in effort we examine the effect on human capital accumulation of three basic education finance policies increased tuition subsidies may not be beneficial because they increase enrolment but they may lower the incentives for student achievement hence the skill level policies directed at enhancing the productivity of education or making degrees more informative are more successful at improving educational outcomes

expanding material flow cost accounting framework review and potentials abstract existing research argues that impressive environmental and economic benefits can be and have been achieved with material flow cost accounting mfca this paper examines the body of literature on mfca and identifies a limited application of mfca in comparison to its potential application examining the scope of mfca shows that the methodological proposals and applications are largely focused on production related decisions so far the growing but still limited body of research on mfca has not been linked with the conceptual developments in environmental management accounting ema by conducting a literature review based on the ema framework additional decision situations and decision makers are identified and the potential benefits of expanding mfca are discussed this paper provides a research agenda both for developing mfca tools and subsequently for spreading them to new areas where they can contribute to the sustainable development of organizations the economy and society practitioners could benefit from this paper by considering additional areas of applications for mfca in the specific settings of their company

comprehensive life cycle assessment by transferring of preventative costs in the supply chain of products a first draft of the oiconomy system abstract a major part of global unsustainability is embedded in consumption and the processes involved in the lifecycle of products but there is currently no comprehensive and objective method for product sustainability measurement including both environmental and social issues this requires a life cycle approach current life cycle assessment lca systems developed to compare environmental performance of products and production alternatives have many shortcomings if used to comprehensively measure product sustainability the most important shortcomings are the lack of a measuring standard the top down approach the weighting of different issues the very laborious procedures of addressing specific supply chains limitation to environmental aspects the very complex nature of impact based data and difficult database maintenance this article presents a new type of bottom up and product specific lca for the comprehensive measurement of the hidden environmental and social costs of products every supply chain actor collects the upstream supply chain hidden costs calculates and adds its own contribution and transfers the result to the next link by means of a monetary unit the eco social cost unit escu every escu allocation is the product of a quantitative factor for an issue and a price factor the uniform measurement of the quantitative factor their transfer through the supply chain and the creation of a self learning database of the price factors is achieved by means of a standard the price factor represents the marginal preventative costs for the relative impact category of sustainability issues for initial determination of the price factor this article extends the ecocost value ratio system developed by vogtlander et al to social issues discusses implications of the system its principles advantages research challenges and limitations and proposes system boundaries for application of the system and future research contributions to the project

mfca extension from a circular economy perspective model modifications and case study abstract as an innovative method of environment management accounting ema a model of material flow cost accounting mfca is widely used in the field of cost calculation in the manufacturing process industry and it has obtained a level of achievement in recent years based on the existing literature in the field this report argues that the application of the current mfca model in the process industry has defects such as content restrictions a single accounting index simple methodology and one sided conclusions among others this paper combines the current mfca model with the 3r principle of a circular economy ce and the industry characteristics of high consumption and pollution the research focuses on the iron and steel industry as a representative of a process manufacturing industry and forms a modified mfca model for an iron and steel enterprise according to the perspective of ce the modifications we make to the model occur in the fields of model content the accounting index the methodology of application and the extension of functionality finally through a specific case study this report verifies the comprehensive utility of the proposed modified model in general the modified mfca may to a certain extent be considered innovative in its approach to information and data connections extension of methods and procedures modes of disclosing information construction of evaluation analysis and management of circular decision making each of these elements is conducive to realizing a triple win situation for the conservation of resources energy providing an economic value add reducing the environmental load and enhancing the sustainable development of a resource constrained process industry

the relevance of epistemic analysis to sustainability economics and the capability approach abstract this paper considers how epistemic analyses birkin and polesie 2011 foucault 1970 foucault 1990a foucault 1990b may assist with the development of sustainability economics bartelmus 2010 baumgartner and quaas 2010a baumgartner and quaas 2010b and soderbaum 2011 and the capability approach ballet et al 2011 martins 2011 rauschmayer and lesmann 2011 scerri 2012 it was the french social theorist michel foucault 1926 1984 who coined the term episteme to refer to the possibility of knowledge that determines the development of thought and knowledge in a given period for foucault epistemes were the buried foundations of knowledge that his epistemic archaeology could unearth in 2007 foucault was identified as the most cited author of books in the humanities by thomson reuters isi web of science this paper begins with a brief definition and description of epistemic analyses a summary analysis of the modern episteme and neoclassical economics is then provided and this is followed by outline evidence for the emerging episteme finally the opportunity is considered for the emerging episteme to reinforce and enhance sustainability economics and the capability approach

sleep and the allocation of time using aggregated data for 12 countries a cross section of microeconomic data and a panel of households we demonstrate that increases in time in the labor market reduce sleep our theory of the demand for sleep differs from standard models of time use by assuming that sleep affects wages by affecting labor market productivity estimates of a system of demand equations demonstrate that higher wage rates reduce sleep time among men but increase their waking nonmarket time by an equal amount among women the wage effect on sleep is negative but very small

growth effects of flat rate taxes recent estimates of the potential growth effects of tax reform vary wildly ranging from zero to eight percentage points using an endogenous growth model we assess which model features and parameter values are important for determining the quantitative impact of tax reform we find that the critical parameters are factor shares depreciation rates the elasticity of intertemporal substitution and the elasticity of labor supply the elasticities of substitution in production on the other hand are relatively unimportant the quantitative estimates in several recent papers are compared with each other and with some of the evidence from u s experience we find that robert lucas s conclusion that tax reform would have little or no effect on the u s growth rate is theoretically robust and consistent with the evidence

data watch the american time use survey we discuss the new american time use survey atus an on going household survey of roughly 1 200 americans per month 1 800 per month in the first year 2003 that collects time diaries as well as demographic interview information from respondents who had recently been in the current population survey the characteristics of the data are presented as are caveats and concerns that one might have about them a number of novel uses of the atus in economic research including in the areas of macroeconomics national income accounting labor economics and others are proposed to illustrate the magnitude of this new survey s possible applications

pilot project on sustainability management accounting with the styrian automobile cluster abstract the paper is based on a project with the styrian automobile cluster in austria and selected member companies in six companies the environmental management costs as well as further costs for health and safety risk management and other social issues were assessed less tangible items and external effects are addressed starting with the efforts to assess the financial effects of the sustainability performance indicators provided by the global reporting initiative gri for sustainability reporting the un dsd united nations division for sustainable development method for environmental management accounting ema was enlarged by several other cost categories this paper describes these and the experiences from the pilot projects the two major cost drivers are the purchase costs of non product output and the costs related to lost working days because of sick leave and accidents and the overtime pay to make up for these lost working days the work of the environmental health and safety ehs department helps to reduce these costs the cost assessment scheme allows one to better understand the relationships between costs for treatment of undesired effects due to unimplemented protection measures and lost material purchase value in comparison to the prevention costs which mainly consist of the internal management departments and related external consultants the assessment of sustainability management costs is of interest for organisations which already publish a sustainability report and want to more accurately assess the financial effects of such aspects addressed via ema it is also useful for small and medium sized companies which use the assessment as a starting point to shape their ehs system the main benefits are more accurate data and better arguments for investment appraisal or performance indicators as well as improved consistency of information and management systems that should help them to improve their environmental social and economic performance

on the ineffectiveness of tax policy in altering long run growth harberger s superneutrality conjecture abstract in 1964 harberger conjectured that although theory predicts that changes in tax rates affect investment and growth in the long run in practice tax policy is an ineffective instrument to influence growth this paper provides theoretical and empirical evidence in favor of this view the growth effects of tax policy in the class of endogenous growth models driven by human capital accumulation are examined and numerical simulations of these models confirm the results harberger predicted cross country panel regressions estimated using a new method for measuring effective tax rates produce significant investment effects from taxes that are consistent with negligible growth effects these results are robust to the introduction of other growth determinants

income wages and household production theory abstract with the american time use survey 2003 15 we show that both non workers and workers with higher household incomes spend less time on two quantitatively important time intensive activities sleep and tv watching this finding cannot be explained by the standard becker 1965 commodity production model we modify that model to allow both substitution between time and goods in household production and substitution among commodities in utility functions which rationalizes these results and suggests a way forward for empirical work on household behavior

optimal factor tax incidence in two sector human capital based models abstract this paper studies the optimal factor tax incidence in a standard two sector human capital based endogenous growth model elucidated by lucas 1988 capital income taxes generate dynamic inefficiency for capital accumulation and labor income taxes create dynamic inefficiency for human capital accumulation a factor tax incidence is a tradeoff between these two inefficiencies a switch from capital income taxes to labor income taxes reduces the long run welfare coming from lower leisure and increases the long run welfare originated from higher economic growth and higher consumption because the representative agent s learning time and human capital are inseparable and thus affect learning activities at the same degree we find that based on the current us income tax code it is optimal to first tax capital income and to resort to taxing labor income only when tax revenue is insufficient to cover government expenditure

on addressing the dual and embedded nature of business and the route towards corporate sustainability abstract this article argues for greater attention to be paid to the dual and embedded nature of business we propose that a more inclusive systemic perspective is needed for the challenge of speeding up the application of inclusive corporate sustainability the key question is how an on going upward dynamic of transformative learning cycles can be achieved in practice the current practice of implementing sustainability management systems identifying key performance indicators reporting on sustainability policies and outcomes has a strong focus on the physical dynamics in companies and in the good cases in their value chain in many cases the three dimensions of issues time and place are only addressed partially we argue that the academic community needs to pay greater retro and prospective attention to the social intervention dynamics introducing checks on the assumed effects of social interventions in order to achieve a more balanced and inclusive corporate sustainability we need to link levels of the achievement of corporate sustainability goals more strongly with self assessment of the social dynamics in firms and their societal system

redistributive taxation in a simple perfect foresight model abstract we investigate the redistributive potential of capital taxation in an intertemporal maximizing model of capital formation first even unanticipated redistributive capital taxation is severely limited in its effectiveness since it depresses wages second under any convergent redistributive tax policy which maximizes a paretian social objective the capital income tax will converge to zero independent of the factor supply elasticities these results are independent of workers holdings of capital

the effect of taxation on human capital this study finds a significant negative effect of proportional income taxation on human capital of the few earlier studies to address this issue most suggested a negligible effect of taxation on investment in human capital this earlier conclusion is shown to be incorrect by using a model that is more general in several respects than the models used previously

on the taxation of human and physical capital in models of endogenous growth abstract this paper studies the effects of factor income taxation and of subsidies to human capital accumulation in models of endogenous growth it examines in particular how these effects depend on the specification of the leisure activity and on the technology and tax treatment of the sector producing human capital it shows that the negative effects of factor income taxes on economic growth are stronger when the human capital sector is a market good under these circumstances a subsidy to human capital accumulation can offset the direct growth effects of labor taxation making it akin to a consumption tax the paper then briefly discusses the normative implications of the analysis for the optimal taxation of factor incomes

dynamic optimal taxation in small open economies abstract this paper examines the effects of perfect capital mobility on the determination of optimal capital taxation it shows that capital movements do not change dramatically the optimal tax path studied for the closed economy in addition the paper provides a counterexample to the standard belief that the worldwide system is the optimal regime of taxation finally it shows that the rate of taxation of the rest of the world is not fundamental to determine the optimal decision of a small economy

a two sector model of endogenous growth with leisure in this paper we analyze a class of endogenous growth models with physical and human capital and with three altematives uses of time unqualified leisure work and education in contrast to some other related models we find that even in the absence of technological extemalities there could be multiple balanced paths we provide a characterization of the qualitative behavior of consumption leisure work and education over those balanced paths and study their transitional dynamics

income taxes public investment and welfare in a growing economy abstract in a growth model with public capital and a spillover externality from private capital we find that income taxes as part of an optimal fiscal policy is a more common result than usually thought the commitment to finance an exogenous component of public expenditures in the form of an exogenous fraction of output may lead to the optimality of positive income taxes this result is robust to alternative assumptions on depreciation rates and preferences we show that welfare losses from deviations from the optimal policy are always smaller when compensated with changes in income taxes than when adjusting lump sum taxes

a review on circular economy the expected transition to a balanced interplay of environmental and economic systems el articulo muestra un estudio en donde se proporciona una revision extensa de la literatura de las dos ultimas decadas con el proposito de captar las principales caracteristicas y perspectivas de la ce economia circular origenes principios basicos ventajas y desventajas modelado e implementacion de ce en los diferentes niveles micro meso y macro en todo el mundo los resultados demuestran que los origenes de la ce se basan principalmente en la economia ecologica y ecologia industrial

public schooling college subsidies and growth abstract how does the mix of public education expenditures across primary and secondary k 12 education and post secondary college education influence economic growth to address this i build an overlapping generations endogenous growth model human capital is accumulated through compulsory k 12 education and through optional college education government uses tax revenue to provide quality in k 12 schooling and to subsidize college tuition when total expenditures are small all funds should provide k 12 quality when expenditures are above a critical value a positive share should subsidize tuition the share should increase with total expenditures and with the degree of complementarity of human capital accumulated through the two types of education also increased education spending is more likely to increase growth when a larger share subsidizes tuition

from the static to the dynamic some problems in the theory of taxation abstract this paper considers problems and issues that arise when we attempt to extend the static theory of taxation and production planning to a dynamic context and to combine that theory with theories of growth the reasons dynamic theory is less developed include problems with the analytical tractability of even those dynamic models which attempt to retain the basic structure of the static model furthermore difficult and interesting issues arise in a dynamic context which are either not present or are much less severe in the static theory special attention is paid to these new issues and the difficulties they pose

finite lifetimes and growth abstract in this paper we study the long run growth property of overlapping generations models it is shown that in one sector models with convex technologies the asymptotic growth rate must be zero this results because the young do not have sufficient income to purchase a large capital stock thus a policy of income redistribution to the young can generate growth even if financed by income taxation additionaly it is shown that two sector models and one sector models with nonconvex technologies are consistent with growth

environmental costs at a canadian paper mill a case study of environmental management accounting ema abstract an environmental management accounting ema framework is applied to the 2000 year end financial report for the mackenzie paper division paper mill owned and operated by abitibi consolidated inc of montreal quebec a conventional reading of the obvious environmental costs from this financial report is cdn 2 196 838 this figure is derived from an analysis of effluent treatment costs and other line item environmental costs there is no environmental account category that breaks out either costs or the mass balance of inputs and outputs for the most part environmental costs are rolled up into overhead accounts such as administration infrastructure and materials accounts application of the ema framework is based on assigning environmental costs to one of four categories for which a tentative breakdown is as follows 1 waste and emission treatment costs 3 348 902 2 prevention and environmental management costs 270 109 3 material purchase value of non product output costs 946 799 and 4 processing costs of non product output 2 92 943 there is also a category called environmental revenues of which none were reported conservative estimates thus place the total environmental costs at 4 858 753 what is significant about this result is that the environmental costs under ema are at least twice as much as would normally be reported this supports the view that environmental costs are much higher than generally considered and makes it clear that many important environmental costs as well as benefits are hidden in other accounts more studies of a similar design are required to confirm the validity of the ema methodology reported here

tax structure and growth in a model with human capital abstract the effect of the tax structure on the long run growth rate of income and consumption is analyzed where tax structure refers to the mix of taxes on physical and human capital which satisfy an exogenously given government budget constraint the factor used intensively in the consumption good sector relative to the capital goods sector as a whole is taxed more highly in a growth maximizing tax structure an endogenous labor supply the tax treatment of depreciation and the effect of replacing the income tax with a consumption tax are all considered

environmental management accounting as a reflexive modernization strategy in cleaner production abstract understanding the material purchase value of wastes and emissions and related processing costs is the essential contribution of an environmental management accounting methodology proposed by a united nations expert working group organised through the division for sustainable development undsd tracing costs and benefits according to this undsd methodology considered as a reflexive modernization strategy in this article sheds new light on cleaner production initiatives for corporate sustainability information on the first category of costs waste and emission treatment is generally the most accurate information on the second category prevention and environmental management costs is more difficult to determine because this category overlaps with or is confused with the first category of costs data for the two novel and innovative cost categories of the material purchase value of waste and emissions and related processing costs are even harder to obtain frequently the costs are either hidden in overhead accounts or are not recorded because they are not required in conventional accounting systems the outcome is that companies even though they may profess otherwise have very little knowledge about their full environmental costs cost saving opportunities or how best to achieve cleaner production initiatives to promote corporate sustainability a more systematic application of the undsd ema methodology would provide a better record of costs and act as a catalyst in promoting cleaner production processes this application inevitably requires reflexive institutions including reflexive corporations that is corporations with the capacity to examine the side effects of their operations as modernization rebounds upon them

factor income taxation and growth under asymmetric information abstract this paper studies the growth effects of factor income taxation on capital and labor in an endogenous growth model with overlapping generations capital accumulation in our model takes place through credit financed investments in a market with asymmetric information between lenders and borrowers we show that in the presence of asymmetric information capital income taxation worsens the adverse selection problem in the credit market which in turn introduces an additional adverse effect on growth in so doing our analysis provides a new argument in favor of a lower higher capital labor income taxation in funding public expenditures

transitional dynamics in two sector models of endogenous growth the steady state and transitional dynamics of two sector models of endogenous growth are analyzed in this paper we describe necessary conditions for endogenous growth the conditions allow us to reduce the dynamics of the solution to a system with one state like and two control like variables we analyze the determinants of the long run growth rate we use the time elimination method to analyze the transitional dynamics of the models we find that there are transitions in real time if the point in time production possibility frontier is strictly concave which occurs for example if the two production functions are different or if there are decreasing point in time returns in any of the sectors we also show that if the models have a transition in real time the models are globally saddle path stable we find that the wealth or consumption smoothing effect tends to dominate the substitution or real wage effect so that the transition from relatively low levels of physical capital is carried over through high work effort rather than high savings we develop some empirical implications we show that the models predict conditional convergence in that in a cross section the growth rate is predicted to be negatively related to initial income but only after some measure of human capital is held constant thus the models are consistent with existing empirical cross country evidence authors

on the optimal taxation of capital income abstract we show that in models in which labor services are supplied jointly with human capital the chamley and judd result on zero capital income taxation in the limit extends to labor taxes as long as accumulation technologies are constant returns to scale moreover for a class of widely used preferences consumption taxes are zero in the limit as well however we show by the construction of two examples that these results no longer hold for certains types of restrictions on tax rates or if there are profits generated journal of economic literatureclassification numbers e62 h21

introducing the all seeing eye of business a model for understanding the nature impact and potential uses of waste abstract at current rates of disposal there are nearly 8 years of remaining landfill capacity at permitted sites in england and wales industry encouraged by financial penalties from the government faces the challenges of cleaner and more sustainable production whilst trying to remain competitive in the market place this paper proposes fit thinking as a means by which waste can be reduced from the early design stages alongside the all seeing eye of business a model to illustrate potential sources of profit and loss in a manufacturing firm s output a literature review on waste and profitability reveals the basis for the model concepts from material flow cost accounting the kanthal effect and the kano model are combined together with industry case studies to develop the model the model is explained in detail demonstrating twelve types of relationships between a company s product outputs and the profitability of each output the model and the relationships it proposes are then tested against examples from literature ultimately fit thinking is shown to help companies prevent waste where waste is unavoidable the all seeing eye of business model can be used by companies in the understanding of their non product output waste providing insights into the nature of their waste and the impact on profitability it is hoped that this understanding will encourage them to see waste as a potential profit making co product rather than as a necessary evil

the use of environmental management accounting ema for identifying environmental costs abstract the expert working group on improving the role of government in the promotion of environmental management accounting ema was set up by the united nations division for sustainable development un dsd in cooperation with a number of government agencies and non governmental experts to promote environmental management accounting ema through publications pilot projects and by establishing an international forum for discussion on the role of governments in the promotion of ema ema environmental management accounting represents a combined approach that provides for the transition of data from financial accounting cost accounting and mass balances to increase material efficiency reduce environmental impacts and risks and reduce costs of environmental protection ema is performed by private or public corporations but not by nations and has a financial as well as a physical component the core focus of environmental management accounting and of the ema un dsd methodology is assessment of total annual environmental expenditure on emission treatment disposal environmental protection and management in addition and that is new and challenging for most companies the material purchase value of all non product output and its production costs are added this total sum often provides a frightening picture of total annual costs of inefficiency and gets companies to improve their information systems and material efficiency options which is the goal in the light of cleaner production the first book published by the expert working group environmental management accounting procedures and principles jasch c united nations new york 2001 defines principles and procedures for ema with a focus on techniques for quantifying environmental expenditures or costs as a basis for better controlling and benchmarking purposes the methodology excludes costs external to the company so called externalities e g environmental and social effects that occur to the general public but focuses on comprehensive assessment of direct annual expenditure on emission treatment environmental protection and management as well as wasted material and energy input efficiency losses in production firstly total annual expenditure is assessed then improvement options savings and investment projects as well as product prices can be re calculated the method is currently applied in several case studies the following summary provides some of the core definitions and generic assessment tables

integrating information about the cost of carbon through activity based costing abstract environmental protection has been an issue of serious concern for many years it is not a trend but the responsibility of corporations this responsibility for environmental protection should be internalized into business operations prior to production in order to reflect the true cost of the final product due to the use of traditional cost accounting many organizations have not estimated their environmental costs precisely therefore environmental accounting systems such as carbon management accounting environmental management accounting and greenhouse gas accounting have attracted worldwide attention in this paper we propose an integrated concept the activity based costing approach to solve the problem of environmental and cost evaluation we include a case study of an existing pulp and paper company in taiwan to show that the activity based costing method estimates emissions of waste and the environmental costs of a final product more accurately than traditional approaches do the method can therefore provide information for use in existing environmental accounting systems and help managers incorporate environmental costs into their decision making processes

material flow cost accounting looking back and ahead abstract material flow cost accounting mfca combines physical flows and monetary units and is located between energy and material efficiency analyses environmental management and managerial accounting procedures since the development of iso 14051 2011 research and application in industry increased but still some theoretical methodological and practical gaps exist this special volume addresses some of the existing deficits and shows the fertile contribution of mfca on resource efficiency as can been seen by the articles and case studies in this special volume mfca still is continuously spreading into further countries and the methodology is extended refined and elaborated and increasingly applied in combination with various other tools and concepts the main challenges are still the continuous implementation of the method in industry and the public dissemination of the results

growth effects of taxation under altruism and low elasticity of intertemporal substitution an increase in the tax rate on capital income may raise the rate of economic growth when the elasticity of intertemporal substitution is low and intergenerational transfers are absent since the strength of the bequest motive depends on tax rates this paper provides conditions under which taxing capital income and then reducing the labour income tax is more growth enhancing than the classical policy of zero taxes on capital income and vice versa this paper analyses the effects of different taxes on the rate of economic growth we consider an economy in which public spending is a fixed fraction of the gnp and the government can obtain revenues from proportional taxes on both labour and capital income obviously the growth effects of these two instruments will depend on the assumptions made about the economic environment in the standard overlapping generations olg model with production diamond 1965 an increase in capital income taxes allows a reduction in labour income taxes and thus agents will enjoy more income when they are young since in the olg model young agents must purchase the total stock of capital installed in the next period and saving is increasing in young income higher taxes on capital income may lead to faster capital accumulation in order to complete the argument we must ensure that the associated decrease in the after tax interest rate does not lead to a reduction in saving which would outweigh the previous income effect in other words we need a sufficiently low elasticity of intertemporal substitution the argument is thus similar to the one of jones and manuelli 1992 who have already pointed out that if the technological environment makes sustained growth feasible then taxing the old agents and subsidising the young ones may increase the rate of economic growth however the situation is completely different if we consider instead an economic environment in which the life cycle considerations are absent for instance in endogenous growth models with a representative agent or dynasty and infinite life span an increase in the capital income tax rate typically translates into lower growth see for instance sato 1967 feldstein 1974 stiglitz 1978 and the more recent contributions of lucas 1990 and rebelo 1991 a way to give a unified treatment to these two alternative models is by means

on endogenous growth with physical and human capital this paper presents a class of models in which agents may devote part of their nonleisure activities to going to school so as to increase the efficiency units of labor they supply to the firms and the wages they receive the interaction among the technology of human capital accumulation and agents preferences will determine endogenously the economy s rate of growth given a constant returns to scale technology for physical capital accumulation we characterize the set of steady states as a ray from the origin and show the global convergence of every off balanced path to some point on this ray further properties concerning the dynamic evolution of the state and control variables around the ray of steady states are also established our analysis is useful to understand the role played by the technologies of physical and human capital in the process of accumulation and to evaluate the impact of policies geared toward attaining higher levels of capital our results highlight the importance of human capital

factor taxation and labor supply in a dynamic one sector growth model abstract this paper studies a class of ak type growth models with factor income taxes public capital stock and labor leisure trade offs while a higher capital tax rate reduces economic growth in the short run the long term growth effect is ambiguous and remains ambiguous even if the level of tax rate is larger than the degree of government externality a higher labor income tax rate has ambiguous growth effects both in the short and long runs however if the intertemporal elasticity of substitution for labor supply is sufficiently small a higher labor tax rate always lowers economic growth in the long run despite the existence of productive government taxation

optimal taxation of capital income in general equilibrium with infinite lives this paper analyzes the optimal tax on capital income in general equilibrium models of the second best agents have infinite lives and utility functions which are extensions from the koopmans form the population is heterogeneous the important property of the models is the equality between the social and the private discount rates in the long run i find that the optimal tax rate is zero in the long run for a special case of additively separable utility functions i then determine the tax rates along the dynamic path and conditions that are sufficient for the local stability of the steady state

cleaner production and profitability analysis of 134 industrial pollution prevention p2 project reports abstract pollution prevention p2 can be taken as the father of modern approaches to the pro active management of industrial eco efficiency despite the radical changes and methodological developments following its introduction over the past 30 years p2 still remains a useful conceptual and procedural tool for improving the environmental performance of production systems the essential characteristic of the p2 approach is the reduction at source principle derived from the idea that the generation of pollutants can be reduced or eliminated by increasing efficiency in the use of raw materials energy water and other resources from this point of view it is also a means of raising operational efficiency and profitability the numerous success cases as well as the less satisfactory results documented in the scientific and technical literature provided the starting point for a detailed analysis of how and to what extent industrial p2 projects have been developed and realised particularly in terms of profitability to this end the information in 134 p2 project reports taken from various bibliographic sources was collected and processed the high frequency of p2 projects objectives that focused on cost efficiency demonstrates that the environmental management of production processes has changed from a compliance point of view into a strategic issue for company long range competitiveness on the other hand the scarce use of systematic techniques and tools suggests that adoption of the p2 approach by companies is still in the early stage mainly based on pilot projects empirical and is not completely integrated into the management process

factor income taxation and growth with increasing integration of world capital markets abstract in a closed economy the infinite horizon and the overlapping generations og model prescribe diametrically opposite policies on factor taxation the former argues that the growth maximizing capital income tax rate should be set to zero whereas the latter argues that it should be set as high as possible this note investigates the issue by taking into account global capital market integration we show that the long run growth maximizing capital income tax rate in a small open og economy is decreasing as the economy s capital market is increasingly integrated with the rest of the world and will be equal to zero as prescribed in the infinite horizon model once the degree of integration becomes sufficiently high

children time allocation and consumption insurance we study choices of households deciding on consumption and allocation of spouses time to work leisure and child care with uncertainty the allocation of goods and time over the life cycle also

a general two sector model of endogenous growth with human and physical capital balanced growth and transitional dynamics abstract we examine a two sector endogenous growth model with general constant return to scale production technologies governing the evolution of human and physical capital we prove the existence uniqueness and saddle path stability of the balanced growth equilibrium a dual approach drawing on techniques from international trade theory is used to provide complete characterization of the transitional dynamics of consumption goods and education outputs human and physical capital inputs and the relative price of human capital investment we investigate the long run effects of changes in time preference and factor taxation and show the emergence of instability or indeterminacy when factor taxes are too distortionary journal of economic literatureclassification number d90

the growth effects of tax rates in the oecd this paper explores the merits of macro and micro based tax rate measures within an open economy fiscal policy and growth model using annual data for 15 oecd countries we find statistically small non robust long run growth effects of macro based average tax rates on capital income and consumption but some evidence for average labor income tax effects changes in micro marginal income tax rates at both the personal and corporate levels yield statistically robust gdp responses of modest size both domestic and foreign corporate taxes appear relevant in general tax effects on gdp operate largely via factor productivity rather than factor accumulation

analysis of a two sector model of endogenous growth with capital income taxation this paper addresses a two sector model of endogenous growth in which one sector produces final goods and the other produces new human capital both sectors employ human as well as physical capital under constant returns to scale technologies unlike existing studies of this type of model that have mostly concentrated on steady state analysis or on numerical simulations of calibrated models this paper presents an analytical argument concerning the dynamic behavior of the growth path and the effects of capital income taxation in and out of the steady growth equilibrium it is demonstrated that the dynamic behavior of the economy and some policy effects depend heavily upon the magnitude of factor intensity used in each production sector copyright 1996 by economics department of the university of pennsylvania and the osaka university institute of social and economic research association

dynamic laffer curves abstract in an endogenous growth model with human capital accumulation we discuss the possibility of welfare improving changes on the fiscal policy stance in some actual economies first we characterize the extent to which the initial fall in revenues produced by a permanent tax cut can be compensated by an increase in the tax base due to a dynamic laffer curve effect showing that there is in fact a non trivial margin for substituting debt for taxes on labor and capital income second we show that the largest feasible reduction in labor income tax rates may easily produce a higher welfare gain than the largest feasible reduction in capital income tax rates two qualifications a feasible tax cuts exist only for a relatively high elasticity of intertemporal substitution of consumption and b the preference for the largest feasible tax cut on labor income rather than that on capital income reverses for a low appreciation for leisure relative to consumption in the preferences of the representative agent