Low, High and Super Congestion of a Renewable Natural Resource under Autarky and Trade

Maurice Schiff

No 14279, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Numerous developing economies depend vitally on renewable natural-resource (NR)-based commodities. This study develops a general equilibrium model to examine the steady-state impact of changes in a small economy's NR congestion under open access and optimal regulation. This issue has often been examined under 'low' congestion (LC) – with MC > AC and both upward sloping. Two more categories, 'high' (HC) and 'super' (SC) congestion – whose AC is backwardbending and MC

Keywords: natural resource; low; high and super congestion; open access and optimal regulation; autarky and trade; society’s collapse (search for similar items in EconPapers)
JEL-codes: D62 F18 Q22 Q27 Q56 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2021-04
New Economics Papers: this item is included in nep-env and nep-int
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Citations: View citations in EconPapers (1)

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