Capital depreciation and waste accumulation in capital-resource economies
In this article, we investigate how the depreciation of a manufactured stock and the related accumulation of a waste stock can alter the optimal path of the capital-resource economy. It is shown that the optimal consumption path is affected by how the disuse pattern of the manufactured stock in question is distributed, specifically with forward-looking terms.
Volume (Year): 18 (2011)
Issue (Month): 6 ()
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