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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- Chakravorty, Ujjayant & Magné, Bertrand & Moreaux, Michel, 2004. "Plafond de concentration atmosphérique en carbone et substitutions entre ressources énergétiques," IDEI Working Papers 260, Institut d'Économie Industrielle (IDEI), Toulouse.
- 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.
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- Ujjayant Chakravorty & Bertrand Magne & Michel Moreaux, 2006. "A Hotelling model with a ceiling on the stock of pollution," Working Papers 25547, Institut National de la Recherche Agronomique, France.
- Ujjayant Chakravorty & Bertrand Magne & Michel Moreaux, 2003. "A Hotelling Model with a Ceiling on the Stock of Pollution," Emory Economics 0321, Department of Economics, Emory University (Atlanta).
- Daron Acemoglu, 2003.
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- Michel Moreaux & Bertrand Magné, 2005. "Stabilisation du climat et expansion nucléaire," Revue Française d'Économie, Programme National Persée, vol. 20(1), pages 181-233.
- 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.
- Kamien, Morton I & Schwartz, Nancy L, 1978. "Optimal Exhaustible Resource Depletion with Endogenous Technical Change," Review of Economic Studies, Wiley Blackwell, vol. 45(1), pages 179-96, February.
- Tahvonen, Olli & Salo, Seppo, 2001. "Economic growth and transitions between renewable and nonrenewable energy resources," European Economic Review, Elsevier, vol. 45(8), pages 1379-1398, August.
- Robson, Arthur J, 1980. "Costly Innovation and Natural Resources," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(1), pages 17-30, February.
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