Capital depreciation and waste accumulation in capital-resource economies
In this note, 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 aected by how the disuse pattern of the manufactured stock in question is distributed, specifically with forward-looking terms.
|Date of creation:||22 Feb 2010|
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- Simone Valente, 2005.
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