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Natural Resources, National Accounting and Economic Depreciation

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  • John M. Hartwick

Abstract

The current value Hamiltonian in an aggregate optimal growth problem with heterogeneous capital stocks including exhaustible, renewable and environmental stocks is the NNP function. Routine substitutions reveal that the using up of natural resource stocks is representable as an easy-to-interpret economic depreciation magnitudes. We obtain true NNP inclusive of natural resource stock diminution.

Suggested Citation

  • John M. Hartwick, 1990. "Natural Resources, National Accounting and Economic Depreciation," Working Papers 771, Queen's University, Department of Economics.
  • Handle: RePEc:qed:wpaper:771
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    File URL: http://qed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf
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    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L68 - Industrial Organization - - Industry Studies: Manufacturing - - - Appliances; Furniture; Other Consumer Durables

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