Interest and Growth in an Economy with Land
Canadian Journal of Economics, 1991, vol. 24, issue 2, 450-59
Dynamic inefficiency means that, in a growing economy, some generations can be made better off without making others worse off. In the following article, the author shows that dynamic inefficiency is ruled out if there exists a nonproducible productive asset, that is, land. This claim is established for arbitrary growth paths--not only for steady states.
References: Add references at CitEc
Citations: View citations in EconPapers (65) Track citations by RSS feed
Downloads: (external link)
http://links.jstor.org/sici?sici=0008-4085%2819910 ... AGIAE%3E2.0.CO%3B2-4 (text/html)
only available to JSTOR subscribers
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cje:issued:v:24:y:1991:i:2:p:450-59
Ordering information: This journal article can be ordered from
Access Statistics for this article
Canadian Journal of Economics is currently edited by Katherine Cuff
More articles in Canadian Journal of Economics from Canadian Economics Association Canadian Economics Association Prof. Werrner Antweiler, Treasurer UBC Sauder School of Business 2053 Main Mall Vancouver, BC, V6T 1Z2. Contact information at EDIRC.
Bibliographic data for series maintained by Prof. Werner Antweiler ().