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Sectoral Supply of Minerals of Varying Quality

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  • Ciarns, Robert D
  • Lasserre, Pierre

Abstract

In this sectoral model of mineral production, investment in ca pacityand variation in ore-body grade and volume help explain some stylizedfac ts. More than one grade of ore may be exploited simultaneously. Mine exhaustion, but not necessarily entry, occurs in declining orderof grade. The price may ri se or fall but is likely to fall initiallyand must eventually rise, at less tha n the interest rate unless demand expands rapidly. These trends exhibit fluctuat ions due to entry and exhaustion of deposits. Resource price cyclicality is rein forced because mines keep producing at capacity when the price is falling. Copyright 1986 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Ciarns, Robert D & Lasserre, Pierre, 1986. " Sectoral Supply of Minerals of Varying Quality," Scandinavian Journal of Economics, Wiley Blackwell, vol. 88(4), pages 605-626.
  • Handle: RePEc:bla:scandj:v:88:y:1986:i:4:p:605-26
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    Cited by:

    1. Anthony J. Venables, 2014. "Depletion and Development: Natural Resource Supply with Endogenous Field Opening," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(3), pages 313-336.
    2. Martin Stürmer, 2013. "150 Years of Boom and Bust: What Drives Mineral Commodity Prices?," 2013 Papers pst529, Job Market Papers.
    3. Marvasti, Akbar, 2013. "The role of price expectations and legal uncertainties in ocean mineral, exploration activities," Resources Policy, Elsevier, vol. 38(1), pages 68-74.
    4. David Prentice, 2006. "A re-examination of the origins of American industrial success," Working Papers 2006.02, School of Economics, La Trobe University.
    5. A. Marvasti, 2000. "Resource Characteristics, Extraction Costs, and Optimal Exploitation of Mineral Resources," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 17(4), pages 395-408, December.
    6. Robert Cairns, 2001. "Capacity Choice and the Theory of the Mine," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 18(1), pages 129-148, January.
    7. Jeffrey A. Krautkraemer, 1998. "Nonrenewable Resource Scarcity," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 2065-2107, December.

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