Duchin, Faye; Levine, Stephen H. - In: Journal of economic structures : JES; the official … 4 (2015), pp. 1-17
Resource prices rise when more costly sources need to be exploited. When the world price increases, owners of low … unique properties. We report results for a set of scenarios for a three-region, four-sector, three-resource world economy …-cost endowments relative to world demand and on the differential costs of extraction relative to the highest-cost producer. The paper …