Resource title

Constant savings rates and quasi-arithmetic population growth under exhaustible resource constraints

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image for OpenScout resource :: Constant savings rates and quasi-arithmetic population growth under exhaustible resource constraints

Resource description

In the Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion we show the following equivalence: If an efficient path has constant (gross and net of population growth) savings rates, then population growth must be quasi-arithmetic and the path is a maximin or a classical utilitarian optimum. Conversely, if a path is optimal according to maximin or classical utilitarianism (with constant elasticity of marginal utility) under quasiarithmetic population growth, then the (gross and net of population growth) savings rates converge asymptotically to constants.

Resource author

Geir B. Asheim, Wolfgang Buchholz, John M. Hartwick, Tapan Mitra, Cees A. Withagen

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/19037

Resource license

Adapt according to the presented license agreement and reference the original author.