Long-Run Consequences of Population Decline in an Economy with Exhaustible Natural Resources

Kazuo Mino and Hiroaki Sasaki

No 1062, KIER Working Papers from Kyoto University, Institute of Economic Research

Abstract: This study explores how population decline affects the long-run performance of an economy in which exhaustible natural resources are indispensable in the process production. Using a one-sector neoclassical growth model with external increasing returns, we inspect the conditions under which the per capita income and consumption persistently expand in the long-run equilibrium. We fiÂ…nd that it is population decline, rather than exhaustible resources, that might terminate persistent growth in per capita income and consumption.

Keywords: exhaustible natural resources; population decline; long-run growth; external increasing returns (search for similar items in EconPapers)
JEL-codes: O13 O44 Q32 Q43 (search for similar items in EconPapers)
Pages: 31pages
Date: 2021-06
New Economics Papers: this item is included in nep-ene, nep-env and nep-gro
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:kyo:wpaper:1062

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