I. The Economics of Durable Exhaustible Resources - II. Mining Gold for the Currency and Optimal Real Balances.

We contrast the supply condition governing the rate of extraction of durable exhaustible resources such as gold with rates of extraction of non-durable exhaustible resources such as oil. In two simple general equilibrium models, Hotelling's rule governs supply for non-durable resources, but a distinct asset equilibrium condition governs the supply of durable exhaustible resources.

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Year of publication:	1989
Authors:	Hartwick, John M.
Institutions:	Economics Department, Queen's University
Subject:	natural resources \| resources exploitation \| economic growth \| economic models

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	10 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005688527