National Wealth and NNP and Natural Resources and National Wealth and NNP

John M. Hartwick

No 275226, Queen's Institute for Economic Research Discussion Papers from Queen's University - Department of Economics

Abstract: Corresponding to current national wealth as discounted future optimal consumption (Weitzman [19761) we observe current national wealth to be the value of net accumulated stocks of capital. It follows that NNP can be interpreted as interest on national wealth. A constant value of wealth implies no net investment and NNP equals the value of consumption, the Hicksian notion of "income".

Keywords: Financial; Economics (search for similar items in EconPapers)
Pages: 35
Date: 1993-05
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Persistent link: https://EconPapers.repec.org/RePEc:ags:queddp:275226

DOI: 10.22004/ag.econ.275226

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