Intertemporal Equity and Hartwick's Rules in an Exhaustible Resource Model

Swapan Dasgupta and Tapan Mitra

Working Papers from Cornell University, Center for Analytic Economics

Abstract: In a standard exhaustible resource model, it is known that if, along a competitive path, investment in the augmentable capial good equals the rents on the exhaustible resource (known as Hartwick's rule), then the path is equitable in the sense that the consumption level is constant over time. In this paper, we show the converse of this result: if a competitive path is equitable, then it must satisfy Hartwick's rule.

JEL-codes: D90 O11 O41 Q32 (search for similar items in EconPapers)
Date: 2002-08
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Citations: View citations in EconPapers (1)

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https://cae.economics.cornell.edu/HRrev2.pdf

Related works:
Journal Article: Intertemporal Equity and Hartwick's Rule in an Exhaustible Resource Model* (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:corcae:02-05

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