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function change. Increasing prudence alone will induce higher savings only if, for certain combinations of the interest rate …
Persistent link: https://www.econbiz.de/10010264467
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...
Persistent link: https://www.econbiz.de/10010281450