This paper characterizes the optimal time paths of extraction of several nonrenewable resource deposits with different costs of extraction when the extracted resource can be converted into productive capital and the extraction process, as well as the production of the substitute, requires two...

In this note, we investigate how the depreciation of a manufactured stock and the related accumulation of a waste stock can alter the optimal path of the capital-resource economy. It is shown that the optimal consumption path is aected by how the disuse pattern of the manufactured stock in...

It is reasonable to consider the stock of any renewable resource as a capital stock and treat the exploitation of that resource in much the same way as one would treat accumulation of a capital stock. This has been done to some extent in earlier papers containing a discussion of this point of...

Dynamic modeling is general and recently the most interesting perspective to solve a dynamic economic problem based on Pontryagin’s maximum principle. Moreover traditional economic theory, up to the middle of twentieth century, builds up the production functions regardless the inputs’...

Traditional economic theory, up to the middle of the twentieth century, builds up the production functions regardless the inputs’ scarcity. In the last few decades has been clear that both the inputs are depletable quantities and a lot of constraints are imposed in their usage in order to...

Traditional economic theory, up to the middle of the twentieth century, builds up the production functions regardless of the inputs’ scarcity. In the last few decades it has become clear that in many cases inputs are depletable quantities and at the same time a lot of constraints are imposed...

This paper observes the possible co-movements of oil price and CO2 emissions in China by following wavelet coherence and wavelet partial coherence analyses to be able to depict short-run and long-run co-movements at both low and high frequencies. To this end, this research might provide the...

The focus of this research is analysis and forecast for Egypt's energy resources of oil and natural gas. Running a risk of an oil shortage in the near term, Egypt's strategic energy resource should shift from oil to natural gas. Given an international energy market with high price variations for...

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...

We present a growth model in which a non-renewable resource enters in the production function. The non-renewable resource is supposed to be sold by an external monopolistic that maximizes his intertemporal discounted cash flow. This approach allows to endogenize the price of the resource. We use...