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Intergenerational Equity and the Investing of Rents from Exhaustible Resources

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  • John Hartwick

Abstract

In an aggregate model where the single output is produced from the services of reproducible capital, the flows of minerals extracted from a resource stock of finite dimension, and labour, it is shown that among efficient paths, the one with current savings-investment equal to current rents from mineral usage has constant per capita consumption over time.

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Bibliographic Info

Paper provided by Queen's University, Department of Economics in its series Working Papers with number 220.

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Length: 18
Date of creation: 1976
Date of revision:
Handle: RePEc:qed:wpaper:220

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