Asheim, Geir B.; Hartwick, John M.; Mitra, Tapan - 2020
We propose an adaptation of Hartwick's investment rule to models with population growth and show that following … dilution effect of population growth, to the value of the depletion of the resource, gross of the capital dilution effect. We … of Hartwick's investment rule where capital gains play a role if population growth is positive. Since capital gains …