Croissance durable, ressource épuisable et effort optimal d'exploration

In this paper, we show how a continuous exploration effort can relax the availability constraint of a non-renewable resource. The exploration process randomly yields discoveries, according to a distribution of probability which is both endogenous and non-stationary. Hence, we investigate the possibility of the economy to reach, in average, a sustainable growth path if the impatience of society is balanced by the positive effects of new deposit discoveries.

MoreLess

Year of publication:	2006
Authors:	LAFFORGUE, Gilles
Published in:	Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 2006, 81, p. 93-111
Publisher:	École Nationale de la Statistique et de l'Admnistration Économique (ENSAE)

More details

Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005065830