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On the sustainable program in Solow's model

  • Withagen, Cees

    ()

    (Dept. of Economics,Tilburg University and Dept. of Econ., Free University,The Netherlands)

  • Asheim, Geir B.

    (Dept. of Economics, University of Oslo)

  • Buchholz, Wolfgang

    ()

    (Dept. of Economics, University of Regensburg, Germany)

We show that our general result (Withagen and Asheim [8]) on the converse of Hartwick’s rule also applies for the special case of Solow’s model with one capital good and one exhaustible resource. Hence, the criticism by Cairns and Yang [1] of our paper is unfounded.

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File URL: http://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/2002/Memo-33-2002.pdf
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Paper provided by Oslo University, Department of Economics in its series Memorandum with number 33/2002.

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Length: 13 pages
Date of creation: 19 Jun 2003
Date of revision:
Handle: RePEc:hhs:osloec:2002_033
Contact details of provider: Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Phone: 22 85 51 27
Fax: 22 85 50 35
Web page: http://www.oekonomi.uio.no/indexe.htmlEmail:


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  1. R. M. Solow, 1973. "Intergenerational Equity and Exhaustable Resources," Working papers 103, Massachusetts Institute of Technology (MIT), Department of Economics.
  2. Dixit, Avinash & Hammond, Peter & Hoel, Michael, 1980. "On Hartwick's Rule for Regular Maximin Paths of Capital Accumulation and Resource Depletion," Review of Economic Studies, Wiley Blackwell, vol. 47(3), pages 551-56, April.
  3. Mitra, Tapan, 1978. "Efficient growth with exhaustible resources in a neoclassical model," Journal of Economic Theory, Elsevier, vol. 17(1), pages 114-129, February.
  4. Withagen, Cees & B. Asheim, Geir, 1998. "Characterizing sustainability: The converse of Hartwick's rule," Journal of Economic Dynamics and Control, Elsevier, vol. 23(1), pages 159-165, September.
  5. Dasgupta, Swapan & Mitra, Tapan, 1983. "Intergenerational Equity and Efficient Allocation of Exhaustible Resources," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(1), pages 133-53, February.
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