Arbeitspapier
Optimal growth under stochastic resource supply
If an economy faces stochastic fluctuations of the resource availability, for example in the case of resource imports, it is optimal in the long run to increase the domestic savings rate in contrast to a deterministic world. Uncertainty is partly substituted by capital accumulation. But this is only true in the long run. The short run effects depend on the capital stock so far accumulated. It is shown that in some cases it may be optimal to lessen the domestic savings rate temporarily when uncertainty increases.
- Language
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Englisch
- Bibliographic citation
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Year: 1990 ; Kiel: Institut für Weltwirtschaft (IfW)
- Classification
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Wirtschaft
- Subject
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Wachstumstheorie
Ressourcenökonomik
Theorie
- Event
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Geistige Schöpfung
- (who)
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Behrens, Axel
- Event
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Veröffentlichung
- (who)
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Kiel Institute of World Economics (IfW)
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
- (where)
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Kiel
- (when)
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1990
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Behrens, Axel
- Kiel Institute of World Economics (IfW)
- ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Time of origin
- 1990
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