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Les ressources non renouvelables : le côté offre

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  • Cairns, Robert D.

    (Département d’économique, Université McGill;)

Abstract

An intellectual malaise afflicts that branch of the economics of natural resources which attempts to relate the exhaustion of global stocks to aggregate consumption, namely the demand side. Here, the stylized facts of the discipline are reviewed and shown to be more consistent with constraints originating on the supply side. The heterogeneity of reserves seems more relevant than exhaustibility; aggregation biases make the forecasting of prices futile; investment plays an important role; and policy should pay greater attention to asymmetries of informations. Il y a un malaise intellectuel qui afflige le côté « demande » en économie des ressources non renouvelables, c’est-à-dire la branche qui vise à relier l’épuisement des stocks globaux à la consommation agrégée. On passe ici en revue les « faits stylisés » de la discipline, lesquels apparaissent plus cohérents avec les contraintes imposées par le côté « offre ». On note que l’hétérogénéité des réserves est plus pertinente aux faits que leur épuisabilité; que l’existence de biais d’agrégation rend futile la prédiction des prix; que l’investissement joue un rôle important; et que la politique économique devrait être plus attentive aux asymétries d’information.

Suggested Citation

  • Cairns, Robert D., 1990. "Les ressources non renouvelables : le côté offre," L'Actualité Economique, Société Canadienne de Science Economique, vol. 66(4), pages 444-460, décembre.
    • Handle: RePEc:ris:actuec:v:66:y:1990:i:4:p:444-460
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    1. Gaudet, Gérard, 1990. "Commentaire," L'Actualité Economique, Société Canadienne de Science Economique, vol. 66(4), pages 461-466, décembre.

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