The measurement error problem in linear time series regression, with focus on the impact of error memory, modeled as nite-order MA processes, is considered. Three prototype models, two bivariate and one univariate ARMA, and ways of handling the problem by using instrumental variables (IVs) are...

After a forecast failure, a respecification is usually necessary to account for the data ex post, in which case there is a gain in knowledge as a result of the forecast failure. Using Norwegian consumption as an example, we show that the financial deregulation in the mid 1980s led to forecast...

We investigate whether mining affects local-level corruption in Africa. Several cross-country analyses report that natural resource production and wealth have adverse effects on political institutions, for instance by increasing corruption, whereas other country-level studies show no evidence of...

The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the...

This lecture discusses relationships between environmental and resource qualities and loads, and economic development, theoretically and empirically. We start in section 2 with a list of theoretical arguments that may or may not justify a tendency for environmental quality to first deteriorate,...

We show that our general result (Withagen and Asheim [8]) on the converse of Hartwick’s rule also applies for the special case of Solow’s model with one capital good and one exhaustible resource. Hence, the criticism by Cairns and Yang [1] of our paper is unfounded.

In the Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion we show the following equivalence: If an efficient path has constant (gross and net of population growth) savings rates, then population growth must be quasi-arithmetic and the path is a maximin or a...

In the framework of ethical social choice theory, sustainability is justified by Efficiency and Equity as ethical axioms. These axioms correspond to the Suppes-Sen Grading principle. In technologies that are productive in a certain sense, the set of Suppes-Sen maximal utility paths is shown to...

We show within three technological environments that any efficient and non-decreasing allocation can be the unique optimum according to undiscounted utilitarianism for some choice of utility function. – Utilitarianism ; Intergenerational justice