Constant savings rates and quasi-arithmetic population growth under exhaustible resource constraints

Geir Asheim, Wolfgang Buchholz (), John Hartwick, Tapan Mitra and Cees Withagen

No 23/2005, Memorandum from Oslo University, Department of Economics

Abstract: In the Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion we show the following equivalence: If an efficient path has constant (gross and net of population growth) savings rates, then population growth must be quasi-arithmetic and the path is a maximin or a classical utilitarian optimum. Conversely, if a path is optimal according to maximin or classical utilitarianism (with constant elasticity of marginal utility) under quasiarithmetic population growth, then the (gross and net of population growth) savings rates converge asymptotically to constants.

Keywords: Constant savings rate; quasi-arithmetic population growth (search for similar items in EconPapers)
JEL-codes: O10 Q32 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2005-09-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
http://www.sv.uio.no/econ/english/research/unpubli ... 005/Memo-23-2005.pdf (application/pdf)

Related works:
Journal Article: Constant savings rates and quasi-arithmetic population growth under exhaustible resource constraints (2007)
Working Paper: Constant Savings Rates and Quasi-Arithmetic Population Growth under Exhaustible Resource Constraints (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hhs:osloec:2005_023

Access Statistics for this paper

More papers in Memorandum from Oslo University, Department of Economics Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway. Contact information at EDIRC.
Bibliographic data for series maintained by Mari Strønstad Øverås ().