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On Sustainability and Intergenerational Transfers with a Renewable Resource

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  • Jeffrey A. Krautkraemer
  • JRaymond G. Batina
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    Abstract

    Recent papers have examined sustainability in overlapping generations models with a nonrenewable resource or a renewable resource with a fixed rate of regeneration. When the regeneration of the resource depends upon the resource stock, a competitive economy can generate a variety of outcomes, from resource exhaustion to inefficient over accumulation, depending upon the value of key parameters. Output shares, private discount factor, intergenerational transfers, and labor supply when old affect the steady-state equilibrium and therefore the implied social rate of time preference. In some cases, a nondecreasing utility requirement can be Pareto inefficient

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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 75 (1999)
    Issue (Month): 2 ()
    Pages: 167-184

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    Handle: RePEc:uwp:landec:v:75:y:1999:i:2:p:167-184

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    Web page: http://le.uwpress.org/

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    Cited by:
    1. Valente, Simone, 2006. "Intergenerational Transfers, Lifetime Welfare and Resource Preservation," MPRA Paper 1042, University Library of Munich, Germany.
    2. Tarui, Nori, 2004. "Common-Property Resource Use And Outside Options: Cooperation Across Generations In A Dynamic Game," 2004 Annual meeting, August 1-4, Denver, CO 20029, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Gerlagh, Reyer & Keyzer, Michiel A., 2003. "Efficiency of conservationist measures: an optimist viewpoint," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 310-333, September.
    4. Valente, Simone, 2011. "Intergenerational externalities, sustainability and welfare—The ambiguous effect of optimal policies on resource depletion," Resource and Energy Economics, Elsevier, vol. 33(4), pages 995-1014.
    5. John C. V. Pezzey, 2004. "Sustainability Policy and Environmental Policy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(2), pages 339-359, 06.
    6. Jeffrey A. Krautkraemer, 1998. "Nonrenewable Resource Scarcity," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 2065-2107, December.
    7. Simone Valente, 2005. "Sustainable Development, Renewable Resources and Technological Progress," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 30(1), pages 115-125, January.
    8. Gerlagh, Reyer & Keyzer, Michiel A., 2001. "Sustainability and the intergenerational distribution of natural resource entitlements," Journal of Public Economics, Elsevier, vol. 79(2), pages 315-341, February.
    9. Nikolai Hoberg & Stefan Baumgärtner, 2011. "Irreversibility, ignorance, and the intergenerational equity-efficiency trade-off," Working Paper Series in Economics 198, University of Lüneburg, Institute of Economics.
    10. Birgit Bednar-Friedl & Karl Farmer, 2013. "Time consuming resource extraction in an overlapping generations economy with capital," Journal of Economics, Springer, vol. 110(3), pages 203-224, November.
    11. Simone Valente, 2007. "Human Capital, Resource Constraints and Intergenerational Fairness," CER-ETH Economics working paper series 07/68, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    12. Voosholz, Frauke, 2013. "Inter-generational distribution of resources in a model of economic growth: Taking the land vs. food trade-off into account," CAWM Discussion Papers 70, Center of Applied Economic Research Münster (CAWM), University of Münster.
    13. Toman, Michael & Pezzey, John C., 2002. "The Economics of Sustainability: A Review of Journal Articles," Discussion Papers dp-02-03, Resources For the Future.

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