We analyze the long-term dynamics of an economy in which sectors are heterogeneous with respect to the intensity of natural resource use. It is shown that heterogeneity induces technical change to be biased towards resource-intensive sectors. Along the balanced growth path, the sectoral...

The validity of the Hotelling?s rule, the fundamental theorem of nonrenewable resource eco- nomics, is limited by its partial equilibrium nature. One symptom of this limitation may be the disagreement between the empirical evidence, showing stable or declining resource prices, and the rule,...

We analyse long-term consumption paths in a dynamic two-sector economy with overlapping generations. Each young generation saves for the retirement age, both with private savings and pension funds. The productivity of each sector can be raised by sector-specific research, while the essential use...

We are interested in three related questions: (1) How should accounting prices be estimated? (2) How should we evaluate policy change in an imperfect economy? (3) How can we check whether intergenerational well-being will be sustained along a projected economic programme? We do not presume that...

The relationship between economic growth and the environment is, and will always remain, controversial. Some see the emergence of new pollution problems, the lack of success in dealing with global warming and the still rising population in the Third World as proof positive that humans are a...

The paper aims at extending the debate on Environmental Kuznets Curves to the case of non-renewable resources and to discuss the driving forces that might give rise to EKC's in this case. The paper at hand deviates from the standard EKC analysis in two ways: First, mostly EKC's are analyzed for...

In den letzten drei Jahrhunderten ist die Wirtschaft in vielen Ländern - langfristig gesehen - dauernd gewachsen. Materieller Mangel ist in den entwickelten Ländern weitgehend verschwunden. Für die Erkenntnis der Leistungsfähigkeit der Marktwirtschaft wie der Defizite der sozialistischen...

The idea of sustainable development has been discussed in tourism research for almost a quarter of a century. During that time, sustainability has become an important policy framework for tourism and regional developers guiding their planning and development thinking. Sustainability has also...

One of the factors that led to the wide rejection of the 1972 “Limits to Growth” report was the inability for most people to understand the model used in the study. In the present paper, the author builds simple “mind sized” world models designed to convey to readers the main qualitative...