The Hartwick rule as a conservation law
AbstractUsing conservation laws, we provide a new proof of the Hartwick result, i.e. there is intergenerational equity if and only if net investment is constant. Subsequently, the technique is used to show that constant net investment does not indicate intergenerational equity if consumers value the existence of an essential non-renewable resource.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance in its series CeNDEF Working Papers with number 08-11.
Date of creation: 2008
Date of revision:
Contact details of provider:
Postal: Dept. of Economics and Econometrics, Universiteit van Amsterdam, Roetersstraat 11, NL - 1018 WB Amsterdam, The Netherlands
Phone: + 31 20 525 52 58
Fax: + 31 20 525 52 83
Web page: http://www.fee.uva.nl/cendef/
More information through EDIRC
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sato, Ryuzo & Kim, Youngduk, 2002. "Hartwick's rule and economic conservation laws," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 26(3), pages 437-449, March.
- Antoine D'Autume & Katheline Schubert, 2008.
"Hartwick's rule and maximin paths when the exhaustible resource has an amenity value,"
UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers)
- d'Autume, Antoine & Schubert, Katheline, 2008. "Hartwick's rule and maximin paths when the exhaustible resource has an amenity value," Journal of Environmental Economics and Management, Elsevier, vol. 56(3), pages 260-274, November.
- Antoine d'Autume & Katheline Schubert, 2008. "Hartwick's rule and maximin paths when the exhaustible resource has an amenity value," Documents de travail du Centre d'Economie de la Sorbonne, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne v08031, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Geir B. Asheim & Wolfgang Buchholz, 2000.
"The Hartwick Rule: Myths and Facts,"
CESifo Working Paper Series
299, CESifo Group Munich.
- Geir Asheim & Wolfgang Buchholz & Cees Withagen, 2003. "The Hartwick Rule: Myths and Facts," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 25(2), pages 129-150, June.
- Asheim,G.B. & Buchholz,W., 2000. "The Hartwick rule : myths and facts," Memorandum, Oslo University, Department of Economics 11/2000, Oslo University, Department of Economics.
- Asheim, G.B. & Buchholz, W. & Withagen, C.A.A.M., 2002. "The Hartwick Rule: Myths and Facts," Discussion Paper, Tilburg University, Center for Economic Research 2002-52, Tilburg University, Center for Economic Research.
- R. M. Solow, 1973. "Intergenerational Equity and Exhaustable Resources," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 103, Massachusetts Institute of Technology (MIT), Department of Economics.
- Hartwick, John M, 1977.
"Intergenerational Equity and the Investing of Rents from Exhaustible Resources,"
American Economic Review, American Economic Association,
American Economic Association, vol. 67(5), pages 972-74, December.
- 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.
- Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers, Columbia - Graduate School of Business 98-10, Columbia - Graduate School of Business.
- Asheim, Geir B. & Weitzman, Martin L., 2001.
"Does NNP growth indicate welfare improvement?,"
Economics Letters, Elsevier,
Elsevier, vol. 73(2), pages 233-239, November.
- Asheim,G.B. & Weitzman,M.L., 2001. "Does NNP growth indicate welfare improvement?," Memorandum, Oslo University, Department of Economics 02/2001, Oslo University, Department of Economics.
- Dixit, Avinash & Hammond, Peter & Hoel, Michael, 1980. "On Hartwick's Rule for Regular Maximin Paths of Capital Accumulation and Resource Depletion," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 47(3), pages 551-56, April.
- Bormotov, Michael, 2010. "Modern Knowledge Based Economy: all-factors endogenous growth model and total investment allocation," MPRA Paper 19932, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Cees C.G. Diks).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.