Our approach is based on the use of the Durbin-Watson statistic and other statistical criteria for the specification of the number of the nonlinear summands in the empirical model of M.K. Hubbert. Given alternate criteria we compare the dynamics of extraction over recent years for the USA and...

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 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...

I offer an approach linking a welfare criterion to the "sustainable development potential" of the economy. This implies a dependence of a criterion on the information about the current state. I consider the problem for the Dasgupta-Heal-Solow-Stiglitz model with externalities. The economy-linked...

I offer an approach linking a welfare criterion to the opportunities for sustainable development in an imperfect economy. The approach implies a dependence of the criterion on the economy's current state. The economy-linked criterion is constructed using an example with the maximin principle...

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...