| Author/Presenter |
Andrei Bazhanov (Queen's University) |
| Title |
The extraction-saving relationship for sustainable growth |
| Abstract |
The paper presents two new results for the Dasgupta-Heal-Solow-Stiglitz model with an essential nonrenewable resource: (1) the pattern of the resource extraction is more important for the sustainable growth than the pattern of saving when the Hotelling Rule modifier is not small enough; (2) the qualitative behaviour of the long-run per capita consumption can be examined along any smooth enough path of extraction using the "sustainability functional" introduced in the paper. |
| Web Link |
http://economics.ca/2008/papers/0361.pdf |