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On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute is Limited

  • Amigues, J-P
  • Favard, P.
  • Gaudet, G.
  • Moreaux, M

Consider a general equilibrium framework where the marginal cost of extraction from several deposits of an exhaustible resource is constant in terms of an inexhaustible perfect substitute and differs between deposits. The instantaneous rate of production form the inexhaustible resource is subject to a capacity constraint.

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Paper provided by Centre interuniversitaire de recherche en économie quantitative, CIREQ in its series Cahiers de recherche with number 9628.

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Length: 16 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:mtl:montec:9628
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  6. Kichian, M. & Garcia, R. & Ghysels, E., 1995. "On the Dynamic Specification of International Asset Pricing Models," Cahiers de recherche 9544, Universite de Montreal, Departement de sciences economiques.
  7. Hosken, D.S. & Margolis, D.N., 1996. "The Efficiency of Collective Bargaining in Public Schools," Cahiers de recherche 9609, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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  9. Kollman, R., 1996. "The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities: a Quantitative Investigation," Cahiers de recherche 9614, Universite de Montreal, Departement de sciences economiques.
  10. Mercenier, J. & Michel, P., 1995. "Temporal Aggregation in a Multi-Sector Economy with Endogenous Growth," Cahiers de recherche 9540, Universite de Montreal, Departement de sciences economiques.
  11. Jean-Marie Dufour & Jan F. Kiviet, 1998. "Exact Inference Methods for First-Order Autoregressive Distributed Lag Models," Econometrica, Econometric Society, vol. 66(1), pages 79-104, January.
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  15. Peter Bossaert & Eric Ghysels & Christian Gouriéroux, 1996. "Arbitrage Based Pricing When Volatility Is Stochastic," CIRANO Working Papers 96s-20, CIRANO.
  16. Ghysels, Eric & Guay, Alain & Hall, Alastair, 1998. "Predictive tests for structural change with unknown breakpoint," Journal of Econometrics, Elsevier, vol. 82(2), pages 209-233, February.
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  19. Ghysels, E. & Harvey, A. & Renault, E., 1996. "Stochastic Volatility," Cahiers de recherche 9613, Universite de Montreal, Departement de sciences economiques.
  20. Eric Ghysels & Christian Gouriéroux & Joanna Jasiak, 1995. "Market Time and Asset Price Movements Theory and Estimation," CIRANO Working Papers 95s-32, CIRANO.
  21. Arcand, J.L. & Boulila, G. & Tritten, C., 1995. "Intergenerational Contracts, Remittances, and Growth," Cahiers de recherche 9543, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  22. Sprumont, Y., 1995. "On the Game-Theoretic Structure of Public-Good Economies," Cahiers de recherche 9519, Universite de Montreal, Departement de sciences economiques.
  23. Sprumont, Y., 1996. "Ordinal Cost Sharing," Cahiers de recherche 9624, Universite de Montreal, Departement de sciences economiques.
  24. Dufour, J.M. & Kiviet, J.F., 1995. "Exact Tests in Single Equation Autoregressive Distributed Lag Models," Cahiers de recherche 9549, Universite de Montreal, Departement de sciences economiques.
  25. Cardia, E. & Ambler, S., 1995. "Indexation Lags Heterodox Stabilization Programs," Cahiers de recherche 9504, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  26. Weitzman, Martin L., 1976. "The optimal development of resource pools," Journal of Economic Theory, Elsevier, vol. 12(3), pages 351-364, June.
  27. Dufour, Jean-Marie & Kiviet, Jan F., 1996. "Exact tests for structural change in first-order dynamic models," Journal of Econometrics, Elsevier, vol. 70(1), pages 39-68, January.
  28. Campbell, B. & Ghysels, E., 1995. "An Empirical Analysis of the Canadian Budget Process," Cahiers de recherche 9523, Universite de Montreal, Departement de sciences economiques.
  29. David Margolis, 1995. "High Wage Workers and High Wage Firms," Post-Print halshs-00378229, HAL.
  30. Dionne, Georges & Gollier, Christian, 1996. "A Model of Comparative Statics for Changes in Stochastic Returns with Dependent Risky Assets," Journal of Risk and Uncertainty, Springer, vol. 13(2), pages 147-62, September.
  31. Kollmann, R., 1995. "Mark Up Fluctuations in U.S. Manufacturing and Trade: New Empirical Evidence Based on a Model of Optimal Storage," Cahiers de recherche 9526, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  32. Dionne, G. & Artis, M. & Guillen, M., 1995. "On the Repayment of Personal Loans under Asymmetrical Information: A Count Data Model Approach," Papers 9509, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
  33. Dionne,G. & Fluet,C., 1995. "Incentives in Multi-period Regulation and Procurement:a Graphical Analysis," Papers 9516, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
  34. Dudley, Leonard, 1999. "Communications and economic growth," European Economic Review, Elsevier, vol. 43(3), pages 595-619, March.
  35. Fortin, N.M. & Lemieux, T., 1996. "Rank Regressions, Wage Distributions and the Gender Gap," Cahiers de recherche 9607, Universite de Montreal, Departement de sciences economiques.
  36. Lewis, Tracy R, 1982. "Sufficient Conditions for Extracting Least Cost Resource First," Econometrica, Econometric Society, vol. 50(4), pages 1081-83, July.
  37. Kemp, Murray C & Long, Ngo Van, 1980. "On Two Folk Theorems Concerning the Extraction of Exhaustible Resources," Econometrica, Econometric Society, vol. 48(3), pages 663-73, April.
  38. Gonzalo, J. & Ng, S., 1996. "A Systematic Framework for Analyzing the Dynamic Effects of Permanent and Transitory Shocks," Cahiers de recherche 9603, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  39. Blum, U. & Dudley, L., 1996. "The Rise and Decline of the East German Economy, 1949-1989," Cahiers de recherche 9616, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  40. Perron, P. & Bai, J., 1995. "Estimating and Testing Linear Models with Multiple Structural Changes," Cahiers de recherche 9552, Universite de Montreal, Departement de sciences economiques.
  41. Robert M. Solow & Frederic Y. Wan, 1976. "Extraction Costs in the Theory of Exhaustible Resources," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 359-370, Autumn.
  42. Marcel Boyer & Philippe Mahenc & Michel Moreaux, 1995. "Entry Blockading Locations," CIRANO Working Papers 95s-51, CIRANO.
  43. Marcel Boyer & Michel Moreaux, 1995. "Capacity Commitment Versus Flexibility: The Technological Choice Nexus in a Strategic Context," CIRANO Working Papers 95s-35, CIRANO.
  44. 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.
  45. Chakravorty, Ujjayant & Krulce, Darrell L, 1994. "Heterogeneous Demand and Order of Resource Extraction," Econometrica, Econometric Society, vol. 62(6), pages 1445-52, November.
  46. Arcand, Jean-Louis, 1996. "Land-Ownership, Working Capital and Agricultural Output: Egypt 1913-58," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 5(1), pages 92-158, March.
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