Croissance durable, ressource épuisable et effort optimal d'exploration

Gilles Lafforgue

Annals of Economics and Statistics, 2006, issue 81, 93-111

Abstract: In this paper, we show how a continuous exploration effort can relax the availability constraint of a non-renewable resource. The exploration process randomly yields discoveries, according to a distribution of probability which is both endogenous and non-stationary. Hence, we investigate the possibility of the economy to reach, in average, a sustainable growth path if the impatience of society is balanced by the positive effects of new deposit discoveries.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2006:i:81:p:93-111

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