This paper presents the model of an economy subject to the mass conservation principle. The economic system is related to the environment by a flow of virgin materials into the economy, and by the diffusion of waste into the environment. Ecoefficiency contributes to reducing material waste in...

Recent research has shown that economic conditions have an important effect on real commodity prices. We quantify the contribution of fluctuations in inflation to this particular link. In the data, a temporary rise in inflation causes real commodity prices to rise, as does a rise in trend...