On the Peaking of Consumption with Exhaustible Resources and Zero Net Investment
We investigate an intertemporal model with an exhaustible resource inflowwhich exhibits a single peak in consumption on the path of development. Thepeak follows the date at which net investment is zero. The ``top'' ofconsumption is higher and flatter and peaks later when the discount rate islower. ``Low'' endowments of the exhaustible resource stock (and ``high''discount rates) are associated with strictly declining consumption paths. Copyright Kluwer Academic Publishers 2003
Year of publication: |
2003
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Authors: | Hartwick, John ; Long, Ngo Van ; Tian, Huilan |
Published in: |
Environmental & Resource Economics. - European Association of Environmental and Resource Economists, ISSN 0924-6460. - Vol. 24.2003, 3, p. 235-244
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Publisher: |
European Association of Environmental and Resource Economists |
Subject: | consumption peak | net investment zero |
Saved in:
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