Ressources naturelles, impatience et progrès technique
This paper studies the intertemporal substitutions between the use of renewable and non renewable resources if the productivities of the different kinds of resources are improved through time by exogenous trends of dedicated technical progress. We show that the optimal exploitation paths of the resources may exhibit much more complex patterns than those predicted by a usual rule of exploitation by increasing costs order. More precisely, we show that in some circumstances, it is optimal for the society to split in two distinct phases the exploitation of the exhaustible resource, separated by a phase of exploitation of the sole renewable resource. Classification JEL : Q20, Q30, Q40, Q55
References listed on IDEAS
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- Morton I. Kamien & Nancy L. Schwartz, 1978. "Optimal Exhaustible Resource Depletion with Endogenous Technical Change," Review of Economic Studies, Oxford University Press, vol. 45(1), pages 179-196.
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"A Hotelling Model with a Ceiling on the Stock of Pollution,"
0321, Department of Economics, Emory University (Atlanta).
- Chakravorty, Ujjayant & Magne, Bertrand & Moreaux, Michel, 2006. "A Hotelling model with a ceiling on the stock of pollution," Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2875-2904, December.
- Chakravorty, Ujjayant & Magné, Bertrand & Moreaux, Michel, 2005. "A Hotelling Model with a Ceiling on the Stock of Pollution," IDEI Working Papers 368, Institut d'Économie Industrielle (IDEI), Toulouse.
- Grimaud, Andre & Rouge, Luc, 2003. "Non-renewable resources and growth with vertical innovations: optimum, equilibrium and economic policies," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 433-453, March.
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