Ecosystems : Burden or Bounty?
This paper presents a somewhat novel
approach to explore the economic contribution of ecosystems.
It develops linked models to capture connections between
resource stocks and flows and the resulting microeconomic
and macroeconomic impacts. A bioeconomic model is developed
that is imbedded into a computable general equilibrium (CGE)
model. Incorporating imperfect regulation, the bioeconomic
model characterizes optimal policies, while the CGE model