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

In a standard exhaustible resource model, it is known that if, along a competitive path, investment in the augmentable capial 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.

MoreLess

Year of publication:	2002-08
Authors:	Dasgupta, Swapan ; Mitra, Tapan
Institutions:	Center for Analytic Economics, Department of Economics

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

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

Persistent link: https://www.econbiz.de/10005553664