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.
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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
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