A Model of Trade in Exhaustible Resources

Slobodan Djajic

Working Paper from Economics Department, Queen's University

Abstract: This paper develops a two-period, two-country model of trade in exhaustible resources. It studies how asymmetries in per-capita resource endowments and rates of time preference determine the equilibrium patter of international trade. The degree of intertemporal consumption substitution plays a decisive role in resolving which influence is greater. The effects of resource discovery and increase government spending on a country's terms of trade are also considered.

Pages: 31 pages
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:607

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