Intertemporal Equity and Hartwick's Rule in an Exhaustible Resource Model

In a standard exhaustible resource model, it is known that if, along a competitive path, investment in the augmentable capital good equals the rents on the exhaustible resource (known as Hartwick's rule), then the path is equitable in the sense that the consumption level is constant over time. In this paper, we show the converse of this result: if a competitive path is equitable, then it must satisfy Hartwick's rule

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Year of publication:	2006
Authors:	Buchholz, Wolfgang ; Dasgupta, Swapan Kumar ; Mitra, Tapan
Publisher:	[S.l.] : SSRN
Subject:	Ressourcenökonomik \| Resource economics \| Theorie \| Theory \| Erschöpfbare Ressourcen \| Exhaustible resources \| Nachhaltige Entwicklung \| Sustainable development

Extent:	1 Online-Ressource (15 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Scandinavian Journal of Economics, Vol. 107, No. 3, pp. 547-561, September 2005
Classification:	D90 - Intertemporal Choice and Growth. General ; O11 - Macroeconomic Analyses of Economic Development ; O41 - One, Two, and Multisector Growth Models ; Q32 - Exhaustible Resources and Economic Development
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014060893