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Resources depletion refers to the situation where the consumption of natural resources is faster than it can be replenished. The natural resources of a nation can be divided as renewable resources and non renewable resources. The natural resources contribute at large to the economic development...
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We develop two models of economic growth with exhaustible natural resources and consumers heterogeneous in time preferences. The first model assumes private ownership of natural resources. In the second model, natural resources are commonly owned and the resource extraction rate is chosen by...
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1. The economics of natural resource scarcity : an interpretive introduction / V. Kerry Smith and John V. Krutilla -- 2. A neoclassical analysis of the economics of natural resources / J.E. Stiglitz -- 3. Entropy, growth, and the political economy of scarcity / Herman E. Daly -- 4. Comments on...
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