On Competitive Equitable Paths under Exhaustible Resource Constraints: The Case of a Growing Population
Working Papers from Cornell University, Center for Analytic Economics
The paper examines the nature of competitive paths in an exhaustible resource model, which allows for growing population. For competitive paths which are equitable in the sense that the per capita consumption level is constant over time, the implicit investment rule is derived. This is seen to be a generalization of Hartwick's rule, obtained in the case of a stationary population. It is also shown that the existence of a competitive equitable path implies that population can experience at most quasi-arithmetic growth.
JEL-codes: D90 O11 O41 Q32 (search for similar items in EconPapers)
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Journal Article: On competitive equitable paths under exhaustible resource constraints: The case of a growing population (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:corcae:07-05
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