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Constant Savings Rates and Quasi-Arithmetic Population Growth under Exhaustible Resource Constraints Author info | Abstract | Publisher info | Download info | Related research | Statistics Geir B. Asheim ()
Wolfgang Buchholz ()
John M. Hartwick
Tapan Mitra ()
Cees A. Withagen ()
Additional information is available for the following
registered author(s):
In the Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion we show the following equivalence: If an efficient path has constant (gross and net of population growth) savings rates, then population growth must be quasi-arithmetic and the path is a maximin or a classical utilitarian optimum. Conversely, if a path is optimal according to maximin or classical utilitarianism (with constant elasticity of marginal utility) under quasiarithmetic population growth, then the (gross and net of population growth) savings rates converge asymptotically to constants.
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number
CESifo Working Paper No. 1573.
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Date of creation: 2005Date of revision:
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Keywords: constant savings rate ; quasi-arithmetic population growth ; Other versions of this item:
Article Asheim, Geir B. & Buchholz, Wolfgang & Hartwick, John M. & Mitra, Tapan & Withagen, Cees, 2007.
"Constant savings rates and quasi-arithmetic population growth under exhaustible resource constraints ,"
Journal of Environmental Economics and Management ,
Elsevier, vol. 53(2), pages 213-229, March.
[Downloadable!] (restricted) Paper Find related papers by JEL classification: Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
This paper has been announced in the following NEP Reports :
References listed on IDEAS 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.: Hartwick, John M, 1977.
"Intergenerational Equity and the Investing of Rents from Exhaustible Resources ,"
American Economic Review ,
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[Downloadable!] (restricted)
Other versions: Geir Asheim & Wolfgang Buchholz & Cees Withagen, 2003.
"The Hartwick Rule: Myths and Facts ,"
Environmental & Resource Economics ,
European Association of Environmental and Resource Economists, vol. 25(2), pages 129-150, June.
[Downloadable!] (restricted)
Other versions:
Asheim,G.B. & Buchholz,W., 2000.
"The Hartwick rule : myths and facts ,"
Memorandum
11/2000, Oslo University, Department of Economics.
[Downloadable!] Asheim, G.B. & Buchholz, W. & Withagen, C., 2002.
"The Hartwick rule : myths and facts ,"
Discussion Paper
52, Tilburg University, Center for Economic Research.
[Downloadable!] Asheim, Geir B. & Buchholz, Wolfgang, 2000.
"The Hartwick Rule: Myths and Facts ,"
CESifo Working Paper Series
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[Downloadable!] Withagen, Cees & Asheim, Geir B. & Buchholz, Wolfgang, 2003.
"On the sustainable program in Solow's model ,"
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33/2002, Oslo University, Department of Economics.
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Withagen, Cees & B. Asheim, Geir, 1998.
"Characterizing sustainability: The converse of Hartwick's rule ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 23(1), pages 159-165, September.
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Geir Asheim, 2004.
"Green national accounting with a changing population ,"
Economic Theory ,
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Other versions: Mitra, Tapan, 2002.
"Intertemporal Equity and Efficient Allocation of Resources ,"
Journal of Economic Theory ,
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"A General Approach to Welfare Measurement through National Income Accounting ,"
Scandinavian Journal of Economics ,
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Other versions: Hamilton, Kirk, 1994.
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Resources Policy ,
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Mitra, Tapan, 1983.
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International Economic Review ,
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R. M. Solow, 1973.
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103, Massachusetts Institute of Technology (MIT), Department of Economics.
Pezzey, John C.V., 2004.
"Exact measures of income in a hyperbolic economy ,"
Environment and Development Economics ,
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Kirk Hamilton & John Hartwick, 2005.
"Investing exhaustible resource rents and the path of consumption ,"
Canadian Journal of Economics ,
Canadian Economics Association, vol. 38(2), pages 615-621, May.
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Full
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"Efficient and Optimal Capital Accumulation and Non Renewable Resource Depletion: The Hartwick Rule in a Two Sector Model ,"
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