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Constant per capita consumption paths with exhaustible resources and decaying produced capital

  • Cheviakov, Alexei F.
  • Hartwick, John

We introduce decay in produced capital and exogenous technical progress to the recent "Solow Model" of Asheim et al. with population growth and observe the possible collapse of the economy given too high a rate of decay. "Enough" technical progress can restore sustainable per capita consumption.

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Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 68 (2009)
Issue (Month): 12 (October)
Pages: 2969-2973

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Handle: RePEc:eee:ecolec:v:68:y:2009:i:12:p:2969-2973
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  1. Asheim, Geir B. & Buchholz, Wolfgang & Hartwick, John M. & Mitra, Tapan & Withagen, Cees, 2007. "Constant savings rates and quasi-arithmetic population growth under exhaustible resource constraints," Journal of Environmental Economics and Management, Elsevier, vol. 53(2), pages 213-229, March.
  2. Mitra, Tapan, 1983. "Limits on Population Growth under Exhaustible Resource Constraints," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(1), pages 155-68, February.
  3. John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers 220, Queen's University, Department of Economics.
  4. Mitra, Tapan, 2007. "On Competitive Equitable Paths under Exhaustible Resource Constraints: The Case of a Growing Population," Working Papers 07-05, Cornell University, Center for Analytic Economics.
  5. Cairns, Robert D. & Long, Ngo Van, 2006. "Maximin: a direct approach to sustainability," Environment and Development Economics, Cambridge University Press, vol. 11(03), pages 275-300, June.
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