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Sustainability in closed and open economies

  • Klepper, Gernot
  • Stähler, Frank

This paper discusses unilateral sustainability policies for tradable resources in closed and open economies. The effects of sustainability policies are modelled in an intertemporal, competitive framework by applying different sustainability rules which are introduced unilaterally in the domestic country. The paper shows that no sustainability rule will lead to a slower rate of extraction of the resource. Instead, resource extraction is increased in both countries. It is also shown that the foreign country may well gain in terms of consumption and real income from such unilateral sustainability policies but not in terms of sustainability.

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Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 741.

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Date of creation: 1996
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Handle: RePEc:kie:kieliw:741
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  1. Joseph E. Stiglitz, 1974. "Growth with Exhaustible Natural Resources: The Competitive Economy," Review of Economic Studies, Oxford University Press, vol. 41(5), pages 139-152.
  2. Geir B. Asheim, 1986. "Hartwick's Rule in Open Economies," Canadian Journal of Economics, Canadian Economics Association, vol. 19(3), pages 395-402, August.
  3. John M. Hartwick, 1978. "Substitution Among Exhaustible Resources and Intergenerational Equity," Review of Economic Studies, Oxford University Press, vol. 45(2), pages 347-354.
  4. Heinz Welsch & Frank Stähler, 1990. "On externalities related to the use of exhaustible resources," Journal of Economics, Springer, vol. 51(2), pages 177-195, June.
  5. Pearce, David W. & Atkinson, Giles D., 1993. "Capital theory and the measurement of sustainable development: an indicator of "weak" sustainability," Ecological Economics, Elsevier, vol. 8(2), pages 103-108, October.
  6. Ethier, Wilfred J. & Svensson, Lars E. O., 1986. "The theoremes of international trade with factor mobility," Journal of International Economics, Elsevier, vol. 20(1-2), pages 21-42, February.
  7. John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers 220, Queen's University, Department of Economics.
  8. van Geldrop, Jan H. & Withagen, Cees A. A. M., 1993. "General equilibrium and international trade with exhaustible resources," Journal of International Economics, Elsevier, vol. 34(3-4), pages 341-357, May.
  9. R. M. Solow, 1974. "Intergenerational Equity and Exhaustible Resources," Review of Economic Studies, Oxford University Press, vol. 41(5), pages 29-45.
  10. Hartwick, John M, 1995. "Constant Consumption Paths in Open Eocnomies with Exhaustible Resources," Review of International Economics, Wiley Blackwell, vol. 3(3), pages 275-83, October.
  11. Lars E.O. Svensson, 1982. "Factor Trade and Goods Trade," NBER Working Papers 0999, National Bureau of Economic Research, Inc.
  12. Joseph Stiglitz, 1974. "Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths," Review of Economic Studies, Oxford University Press, vol. 41(5), pages 123-137.
  13. John Hartwick, 1977. "Intergenerational Equity and the Investment of Rents from Exhaustible Resources in a Two Sector Model," Working Papers 281, Queen's University, Department of Economics.
  14. Ulph, A., 1994. "Environmental policy and international trade: a survey of recent economic analysis," Discussion Paper Series In Economics And Econometrics 9423, Economics Division, School of Social Sciences, University of Southampton.
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