  Braneworld theory provides a natural setting to treat, at a classical level,
the cosmological effects of vacuum energy. Non-static extra dimensions can
generally lead to a variable vacuum energy, which in turn may explain the
present accelerated cosmic expansion. We concentrate our attention in models
where the vacuum energy decreases as an inverse power law of the scale factor.
These models agree with the observed accelerating universe, while fitting
simultaneously the observational data for the density and deceleration
parameter. The redshift at which the vacuum energy can start to dominate
depends on the mass density of ordinary matter. For Omega = 0.3, the transition
from decelerated to accelerated cosmic expansion occurs at z approx 0.48 +/-
0.20, which is compatible with SNe data. We set a lower bound on the
deceleration parameter today, namely q > - 1 + 3 Omega/2, i.e., q > - 0.55 for
Omega = 0.3. The future evolution of the universe crucially depends on the time
when vacuum starts to dominate over ordinary matter. If it dominates only
recently, at an epoch z < 0.64, then the universe is accelerating today and
will continue that way forever. If vacuum dominates earlier, at z > 0.64, then
the deceleration comes back and the universe recollapses at some point in the
distant future. In the first case, quintessence and Cardassian expansion can be
formally interpreted as the low energy limit of our model, although they are
entirely different in philosophy. In the second case there is no correspondence
between these models and ours.
