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Ressources non-renouvelables, impatience et effort optimal de recherche-développement

  • Jean-Pierre Amigues
  • André Grimaud
  • Michel Moreaux

We show how the exhaustion constraint of non renewable resources, against which maintaining a minimum level of consumption may collapse in the long run, could be relaxed by an appropriate effort in R?D. However along any optimal trajectory of the economy, this effort has to be made if and only if the productivity in the research sector is high enough compared with the impatience. We show that, in the case of strong impatience, the society must choose an increasing R?D effort but initially low, resulting in a long run decrease of the consumption level.

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Article provided by Dalloz in its journal Revue d'économie politique.

Volume (Year): 114 (2004)
Issue (Month): 3 ()
Pages: 393-416

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Handle: RePEc:cai:repdal:redp_143_0393
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  1. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-51, March.
  2. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  3. Edward Barbier, 1999. "Endogenous Growth and Natural Resource Scarcity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(1), pages 51-74, July.
  4. André Grimaud, 2000. "Ressources naturelles et croissance endogène dans un modèle à biens horizontalement différenciés," Économie et Prévision, Programme National Persée, vol. 143(2), pages 213-226.
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