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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.author-name: 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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  1. Bossaerts, P. & Ghysels, E. & Gourieroux, C., 1996. "Arbitrage-Based Pricing when Volatility is Stochastic," Cahiers de recherche 9615, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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  5. John M. Abowd & Francis Kramarz & David N. Margolis, 1994. "High-Wage Workers and High-Wage Firms," CIRANO Working Papers 94s-23, CIRANO.
  6. Yves Sprumont, 1998. "Equal factor equivalence in economies with multiple public goods," Social Choice and Welfare, Springer, vol. 15(4), pages 543-558.
  7. 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.
  8. Kollmann, R., 1996. "The Exchange rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities : A Quantitative Investigation," Discussion Paper 1996-67, Tilburg University, Center for Economic Research.
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  10. BOYER, Marcel & MOREAUX, Michel & MAHENC, Philippe, 1995. "Entry Blockading Locations," Cahiers de recherche 9555, Universite de Montreal, Departement de sciences economiques.
  11. David N. MARGOLIS, 1996. "Cohort Effects and Returns to Seniority in France," Annales d'Economie et de Statistique, ENSAE, issue 41-42, pages 443-464.
  12. David N. Margolis, 1995. "Firm Heterogeneity and Worker Self-Selection Bias Estimated Returns to Seniority," CIRANO Working Papers 95s-04, CIRANO.
  13. Bryan Campbell & Eric Ghysels, 1995. "An Empirical Analysis of the Canadian Budget Process," CIRANO Working Papers 95s-08, CIRANO.
  14. Yves Sprumont, 1998. "On the Game-Theoretic Structure of Public-Good Economies," International Journal of Game Theory, Springer, vol. 26(4), pages 455-472.
  15. Ruge-Murcia, F.J., 1995. "Government Expenditure and the Dynamics of High Inflation," Cahiers de recherche 9529, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  16. Kichian, M. & Garcia, R. & Ghysels, E., 1995. "On the Dynamic Specification of International Asset Pricing Models," Cahiers de recherche 9544, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  17. Perron, P. & Bai, J., 1995. "Estimating and Testing Linear Models with Multiple Structural Changes," Cahiers de recherche 9552, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  18. Ghysels, E. & Gourieroux, C. & Jasiak, J., 1995. "Market Time and Asset Price Movements: Theory and Estimation," Cahiers de recherche 9536, Universite de Montreal, Departement de sciences economiques.
  19. Dufour, J.M., 1995. "Some Impossibility Theorems in Econometrics with Applications to Instrumental Variables, Dynamic Models and Cointegration," Cahiers de recherche 9539, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  20. Sprumont, Y., 1996. "Ordinal Cost Sharing," Cahiers de recherche 9624, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  21. Jean Mercenier & Philippe Michel, 1995. "Temporal aggregation in a multi-sector economy with endogenous growth," Working Papers 554, Federal Reserve Bank of Minneapolis.
  22. 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.
  23. Ghysels, E. & Harvey, A. & Renault, E., 1996. "Stochastic Volatility," Cahiers de recherche 9613, Universite de Montreal, Departement de sciences economiques.
  24. Chakravorty, Ujjayant & Krulce, Darrell L, 1994. "Heterogeneous Demand and Order of Resource Extraction," Econometrica, Econometric Society, vol. 62(6), pages 1445-52, November.
  25. Dudley, Leonard, 1999. "Communications and economic growth," European Economic Review, Elsevier, vol. 43(3), pages 595-619, March.
  26. 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.
  27. Arcand, J.L. & Boulila, G. & Tritten, C., 1995. "Intergenerational Contracts, Remittances, and Growth," Cahiers de recherche 9543, Universite de Montreal, Departement de sciences economiques.
  28. DIONNE, Georges & GOLLIER, Christian, 1995. "A Model of Comparative Statics for Changes in Stochastic Returns with Dependent Risky Assets," Cahiers de recherche 9560, Universite de Montreal, Departement de sciences economiques.
  29. Garcia, Rene & Lusardi, Annamaria & Ng, Serena, 1997. "Excess Sensitivity and Asymmetries in Consumption: An Empirical Investigation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(2), pages 154-76, May.
  30. Eric Ghysels & Alain Guay & Alastair Hall, 1995. "Predictive Tests for Structural Change with Unknown Breakpoint," CIRANO Working Papers 95s-20, CIRANO.
  31. Dionne, G. & Aris, M. & Guillen, M., 1995. "On the Repayment of Personal Loans Under Asymmetrical Information: a Count Data Model Approach," Cahiers de recherche 9528, Universite de Montreal, Departement de sciences economiques.
  32. Lewis, Tracy R, 1982. "Sufficient Conditions for Extracting Least Cost Resource First," Econometrica, Econometric Society, vol. 50(4), pages 1081-83, July.
  33. Dionne, G. & Fombaron, N., 1995. "Non-Convexities and Efficiency of Equilibria in Insurance Markets with Asymmetric Information," Papers 9510, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
  34. Georges Dionne & Tahar Mounsif, 1996. "Investment Under Demand Uncertainty: The Newsboy Problem Revisited," The Geneva Risk and Insurance Review, Palgrave Macmillan, vol. 21(2), pages 179-189, December.
  35. 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.
  36. Nicole M. Fortin & Thomas Lemieux, 1998. "Rank Regressions, Wage Distributions, and the Gender Gap," Journal of Human Resources, University of Wisconsin Press, vol. 33(3), pages 610-643.
  37. Georges Dionne & Claude Fluet, 1995. "Incentives in Multi-Period Regulation and Procurement: A Graphical Analysis," Cahiers de recherche du Département des sciences économiques, UQAM 9511, Université du Québec à Montréal, Département des sciences économiques.
  38. 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.
  39. Cardia, E. & Ambler, S., 1995. "Indexation Lags Heterodox Stabilization Programs," Cahiers de recherche 9504, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  40. Marcel Boyer & Michel Moreaux, 1995. "Capacity Commitment Versus Flexibility: The Technological Choice Nexus in a Strategic Context," CIRANO Working Papers 95s-35, CIRANO.
  41. D, S, Hosken & David Margolis, 1997. "The Efficiency of Collective Bargaining in Public School," Working Papers 97-55, Centre de Recherche en Economie et Statistique.
  42. 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.
  43. 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.
  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. Seierstad, Atle, 1984. "Sufficient conditions in free final time optimal control problems. A comment," Journal of Economic Theory, Elsevier, vol. 32(2), pages 367-370, April.
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