Intergenerational Equity and the Investing of Rents from Exhaustible Resources

John Hartwick

Working Paper from Economics Department, Queen's University

Abstract: In an aggregate model where the single output is produced from the services of reproducible capital, the flows of minerals extracted from a resource stock of finite dimension, and labour, it is shown that among efficient paths, the one with current savings-investment equal to current rents from mineral usage has constant per capita consumption over time.

Pages: 18
Date: 1976
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Journal Article: Intergenerational Equity and the Investing of Rents from Exhaustible Resources (1977)
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