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Natural Resources, National Accounting and Economic Depreciation

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  • John M. Hartwick

Abstract

The current value Hamiltonian in an aggregate optimal growth problem with heterogeneous capital stocks including exhaustible, renewable and environmental stocks is the NNP function. Routine substitutions reveal that the using up of natural resource stocks is representable as an easy-to-interpret economic depreciation magnitudes. We obtain true NNP inclusive of natural resource stock diminution.

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File URL: http://qed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf
File Function: First version 1990
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Bibliographic Info

Paper provided by Queen's University, Department of Economics in its series Working Papers with number 771.

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Date of creation: Jan 1990
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Handle: RePEc:qed:wpaper:771

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