Natural Resources, National Accounting and Economic Depreciation
AbstractThe 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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Bibliographic InfoPaper provided by Queen's University, Department of Economics in its series Working Papers with number 771.
Date of creation: Jan 1990
Date of revision:
Other versions of this item:
- Hartwick, John M., 1990. "Natural resources, national accounting and economic depreciation," Journal of Public Economics, Elsevier, vol. 43(3), pages 291-304, December.
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