Constant per capita consumption paths with exhaustible resources and decaying produced capital

Alexei F. Cheviakov and John M. Hartwick

Ecological Economics, 2009, vol. 68, issue 12, pages 2969-2973

Abstract: We introduce decay in produced capital and exogenous technical progress to the recent "Solow Model" of Asheim et al. with population growth and observe the possible collapse of the economy given too high a rate of decay. "Enough" technical progress can restore sustainable per capita consumption.

Keywords: Exhaustible; resource; Intertemporal; equity; Population; increase; Technical; progress; and; radio-active; decay; in; produced; capital (search for similar items in EconPapers)
Date: 2009

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Persistent link: http://EconPapers.repec.org/RePEc:eee:ecolec:v:68:y:2009:i:12:p:2969-2973

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