We gather extensive global price and volume information to establish that exhaustible mineral commodities are both affordable and abundant. On average, we extract a kilogram of mineral for every 5$ of GDP, at a cost of 1⁄4$. We predict that economic growth will progressively decouple from...

This paper analyzes overlapping-generations models where natural capital is owned by selfish agents. Transfers in favor of young agents reduce the rate of depletion and increase output growth. It is shown that intergenerational transfers may be preferred to laissez-faire by an indefinite...

The purpose of this paper is to survey the contributions to economic growth theory. We focus on the basic models and literature that link resource economic and economic growth, in order to reveal the main differences on how the different aspects are incorporated into growth models. As economic...

Sustainability and efficiency are potentially conflicting social objectives in natural resource management. We propose a market mechanism to allocate use rights over a stochastic resource to private managers. The mechanism endogenously determines the maximal tenure length guaranteeing that the...

In this research, the intertemporal optimal management of subsidies offered by the environmental regulator and the dynamic conflict between two groups of economic agents involved in environmental quality are discussed. First the environmental model is examined in its optimal control management...