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Steady-state growth in a Hotelling model of resource extraction

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  • Cynthia Lin, C.-Y.
  • Wagner, Gernot

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Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 54 (2007)
Issue (Month): 1 (July)
Pages: 68-83

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Handle: RePEc:eee:jeeman:v:54:y:2007:i:1:p:68-83

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Web page: http://www.elsevier.com/locate/inca/622870

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References

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  1. John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers, Queen's University, Department of Economics 220, Queen's University, Department of Economics.
  2. Swierzbinski, Joseph E & Mendelsohn, Robert, 1989. "Exploration and Exhaustible Resources: The Microfoundations of Aggregate Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(1), pages 175-86, February.
  3. Lee, Junsoo & List, John A. & Strazicich, Mark C., 2006. "Non-renewable resource prices: Deterministic or stochastic trends?," Journal of Environmental Economics and Management, Elsevier, Elsevier, vol. 51(3), pages 354-370, May.
  4. Slade, Margaret E., 1982. "Trends in natural-resource commodity prices: An analysis of the time domain," Journal of Environmental Economics and Management, Elsevier, Elsevier, vol. 9(2), pages 122-137, June.
  5. Berck, Peter & Roberts, Michael, 1996. "Natural Resource Prices: Will They Ever Turn Up?," Journal of Environmental Economics and Management, Elsevier, Elsevier, vol. 31(1), pages 65-78, July.
  6. David Levhari & Nissan Liviatan, 1977. "Notes on Hotelling's Economics of Exhaustible Resources," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 10(2), pages 177-92, May.
  7. Jeffrey A. Krautkraemer, 1998. "Nonrenewable Resource Scarcity," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 36(4), pages 2065-2107, December.
  8. Devarajan, Shantayanan & Fisher, Anthony C, 1982. "Exploration and Scarcity," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 90(6), pages 1279-90, December.
  9. Robert M. Solow & Frederic Y. Wan, 1976. "Extraction Costs in the Theory of Exhaustible Resources," Bell Journal of Economics, The RAND Corporation, The RAND Corporation, vol. 7(2), pages 359-370, Autumn.
  10. Robert S. Pindyck, 1999. "The Long-Run Evolutions of Energy Prices," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Number 2), pages 1-27.
  11. Farzin, Y H, 1992. "The Time Path of Scarcity Rent in the Theory of Exhaustible Resources," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 102(413), pages 813-30, July.
  12. Salant, Stephen W, 1976. "Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to the World Oil Market," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 84(5), pages 1079-93, October.
  13. Sweeney, James L., 1993. "Economic theory of depletable resources: An introduction," Handbook of Natural Resource and Energy Economics, Elsevier, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 17, pages 759-854 Elsevier.
  14. Claudio Agostini, 2006. "Estimating Market Power in the US Copper Industry," Review of Industrial Organization, Springer, Springer, vol. 28(1), pages 17-39, 02.
  15. Pindyck, Robert S, 1978. "The Optimal Exploration and Production of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 86(5), pages 841-61, October.
  16. Sinn, Hans-Werner, 1984. "Common Property Resources, Storage Facilities and Ownership Structures: A Cournot Model of the Oil Market," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 51(23), pages 235-52, August.
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Citations

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Cited by:
  1. Ghoshray Atanu & Kejriwal Mohitosh & Wohar Mark, 2014. "Breaks, trends and unit roots in commodity prices: a robust investigation," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, De Gruyter, vol. 18(1), pages 23-40, February.
  2. Hart, Rob, 2012. "The economics of natural resources: Understanding and predicting the evolution of supply and demand," Working Paper Series, Department Economics, Swedish University of Agricultural Sciences 2012:01, Department Economics, Swedish University of Agricultural Sciences.
  3. repec:cam:camdae:1307 is not listed on IDEAS
  4. Martin Stürmer, 2013. "150 Years of Boom and Bust: What Drives Mineral Commodity Prices?," 2013 Papers, Job Market Papers pst529, Job Market Papers.
  5. Mohaddes, K., 2012. "Econometric Modelling of World Oil Supplies: Terminal Price and the Time to Depletion," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 1212, Faculty of Economics, University of Cambridge.
  6. Colin A. Carter & Gordon C. Rausser & Aaron Smith, 2011. "Commodity Booms and Busts," Annual Review of Resource Economics, Annual Reviews, Annual Reviews, vol. 3(1), pages 87-118, October.
  7. Pustov, Alexander & Malanichev, Alexander & Khobotilov, Ilya, 2013. "Long-term iron ore price modeling: Marginal costs vs. incentive price," Resources Policy, Elsevier, Elsevier, vol. 38(4), pages 558-567.
  8. Fagnart, Jean-François & Germain, Marc, 2011. "Quantitative versus qualitative growth with recyclable resource," Ecological Economics, Elsevier, Elsevier, vol. 70(5), pages 929-941, March.
  9. Margaret E. Slade & Henry Thille, 2009. "Whither Hotelling: Tests of the Theory of Exhaustible Resources," Annual Review of Resource Economics, Annual Reviews, Annual Reviews, vol. 1(1), pages 239-259, 09.
  10. Martin Stuermer & Gregor Schwerhoff, 2013. "Technological change in resource extraction and endogenous growth," Bonn Econ Discussion Papers, University of Bonn, Germany bgse12_2013, University of Bonn, Germany.
  11. Hart, Rob & Spiro, Daniel, 2011. "The elephant in Hotelling's room," Energy Policy, Elsevier, Elsevier, vol. 39(12), pages 7834-7838.
  12. Eiji Sawada & Shunsuke Managi, 2013. "Non-renewable Resource Extraction with Extraction and Exploration Technologies," Keio/Kyoto Joint Global COE Discussion Paper Series, Keio/Kyoto Joint Global COE Program 2012-048, Keio/Kyoto Joint Global COE Program.
  13. Martin Stürmer & Gregor Schwerhoff, 2012. "Non-Renewable but Inexhaustible – Resources in an Endogenous Growth Model," Working Paper Series of the Max Planck Institute for Research on Collective Goods, Max Planck Institute for Research on Collective Goods 2012_09, Max Planck Institute for Research on Collective Goods.
  14. Rudolfs Bems & Irineu E. Carvalho Filho, 2009. "Current Account and Precautionary Savings for Exporters of Exhaustible Resources," IMF Working Papers, International Monetary Fund 09/33, International Monetary Fund.
  15. Nikolaos Kourogenis & Phoebe Koundouri, . "On the Stationarity of Exhaustible Natural Resource Prices," DEOS Working Papers, Athens University of Economics and Business 1022, Athens University of Economics and Business.

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