On the Peaking of Consumption with Exhaustible Resources and Zero Net Investment

John Hartwick, Ngo Van Long and Huilan Tian

Environmental & Resource Economics, 2003, vol. 24, issue 3, 235-244

Abstract: We investigate an intertemporal model with an exhaustible resource inflowwhich exhibits a single peak in consumption on the path of development. Thepeak follows the date at which net investment is zero. The ``top'' ofconsumption is higher and flatter and peaks later when the discount rate islower. ``Low'' endowments of the exhaustible resource stock (and ``high''discount rates) are associated with strictly declining consumption paths. Copyright Kluwer Academic Publishers 2003

Keywords: consumption peak; net investment zero (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (10)

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DOI: 10.1023/A:1022986119310

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