We compare the short- and the long-run consequences of Russia's Energy Strategy to 2020 and of the project of the Strategy to 2030 with a hypothetical scenario of the weak-sustainable oil extraction, starting from 2008 and providing asymptotically constant per capita consumption in the long run....

An extensive literature shows the importance of investment policy for sustainability of resource-based economies. The approaches of these studies are mostly based on theoretical results that examine the role of investments in a competitive optimizing economy. This paper extends some of these...

The studies of the International Monetary Fund offer a model for recommending sustainable budget policy to oil-exporting countries including Russia. The model does not contain any resource as a factor of production and assumes that Russian oil reserves will be exhausted by the middle of the 21st...

The studies of the International Monetary Fund offer a model for recommending sustainable budget policy to oil-exporting countries including Russia. The model does not contain any resource as a factor of production and assumes that Russian oil reserves will be exhausted by the middle of the 21st...

An extensive literature shows the importance of investment policy for sustainability of resource-based economies by examining the role of investment in current utility change (CUC) for a competitive optimizing economy. This paper extends some of these results by analysing the dependence of CUC...

The term "oil peak" usually is connected with the positive analysis problem, namely, with the problem of defining the year when the increase in the rate of oil extraction will be physically impossible. However, a normative approach to the problem of optimal extraction of a nonrenewable resource...

Beckmann's interaction model has each resident touching base in face-to-face activity with every other resident at the other's residence per unit time. We re-work his resulting ''interaction city'' with each resident ''operating with'' a Cobb-Douglas utility function. Similar but somewhat...

The economy depends on the essential nonrenewable resource and the path of extraction is nondecreasing and inefficient. At some point the government gradually switches to a sustainable (in sense of nondecreasing consumption over time) pattern of the resource use. Technical restrictions do not...

Stollery (1998) studied a polluting oil extracting economy governed by the constant utility criterion. The pollution caused the growth of temperature, negatively affecting production and utility. Stollery provided a closed form solution for the case with the Cobb-Douglas production function and...

The rates of oil depletion are increasing during the last ten years in Russia and the Russian Energy Program, approved by the government, implies further growth of oil production by 2020. We used the transition curves analysis in aggregate model to examine the long-run consumption along...