Böhm, Volker; Kikuchi, Tomoo; Vachadze, George - In: International Journal of Economic Theory 10 (2014) 2, pp. 167-177
type="main" xml:lang="en" <p>This paper shows how intergenerational trading of non-depletable natural resources may affect investment in physical capital, implying distinct patterns of overtaking between countries. Specifically, the results indicate that the elasticity of the marginal utility of...</p>