Growth on a Finite Planet: Resources, Technology and Population in the Long Run

Pietro Peretto and Simone Valente

DEGIT Conference Papers from DEGIT, Dynamics, Economic Growth, and International Trade

Abstract: We characterize the interactions between technological change, natural resource scarcity and population dynamics in a Schumpeterian model with endogenous fertility choices. We show that there exists a pseudo-Malthusian equilibrium in which population is constant and income grows at a constant rate: the equilibrium population level is determined by resource scarcity but is independent of technology. The stability properties are driven by (i) the income reaction to increased resource scarcity and (ii) the fertility response to income dynamics, and ultimately depend on whether labor and resources are complements or substitutes in production. Under substitutability, the pseudo-Malthusian equilibrium is a global attractor. Under complementarity, population follows diverging paths of explosion or implosion.

Keywords: E10; L16; O31; O40 (search for similar items in EconPapers)
Pages: 27 pages JEL Classification: Endogenous Innovation, Resource Scarcity, Population Growth, Fertility Choices
Date: 2010-09
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Related works:
Journal Article: Growth on a finite planet: resources, technology and population in the long run (2015)
Working Paper: Growth on a Finite Planet: Resources, Technology, and Population in the Long Run (2013)
Working Paper: Growth on a Finite Planet: Resources, Technology and Population in the Long Run (2011)
Working Paper: Growth on a Finite Planet: Resources, Technology and Population in the Long Run (2011)
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