Trade and Depletion with a Resource Intensive Export

Henry Thompson

The International Trade Journal, 2021, vol. 35, issue 5, 457-470

Abstract: This article examines the dynamic general equilibrium of a small open economy producing a nonrenewable resource-intensive export and an import-competing good. Optimal depletion ties the rate of increase in the price of the resource to the capital return. Capital increases due to a constant saving rate and labor at a constant rate, potentially maintaining income as trade declines. Taxes on trade or depletion have transitory effects with underlying trends resuming. Trade and depletion with a constant depletion rate, tragedy of the commons, and a myopic resource owner are also considered.

Date: 2021
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DOI: 10.1080/08853908.2020.1797599

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