Indefinitely sustained consumption despite exhaustible natural resources
AbstractThis paper analyzes the feasibility of sustaining uniformly positive consumption forever--even when flows of exhaustible resources are an indispensable input. The main result is a characterization of an economy's capability for sustaining such consumption--under quite general maintained assumptions on technology--in terms of a single, simple capital-resource substitution condition.
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Bibliographic InfoPaper provided by CEPREMAP in its series CEPREMAP Working Papers (Couverture Orange) with number 9027.
Length: 51 pages
Date of creation: 1990
Date of revision:
Other versions of this item:
- Cass, David & Mitra, Tapan, 1991. "Indefinitely Sustained Consumption Despite Exhaustible Natural Resources," Economic Theory, Springer, vol. 1(2), pages 119-46, April.
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