Arbeitspapier
Maximin-optimal sustainable growth with nonrenewable resource and externalities
I offer an approach linking a welfare criterion to the “sustainable development opportunities” of the economy. This implies a dependence of a criterion on the information about the current state. I consider the problem for the Dasgupta-Heal-Solow-Stiglitz model with externalities. The economy-linked criterion is constructed on an example of the maximin principle applied to a hybrid level-growth measure. This measure includes as special cases the conventional measures of consumption level and percent change as a measure of growth. The hybrid measure or geometrically weighted percent can be used for measuring sustainable growth as an alternative to percent. The closed form solutions are obtained for the optimal paths including the paths, dynamically consistent with the updates in reserve estimates.
- Sprache
-
Englisch
- Erschienen in
-
Series: EERI Research Paper Series ; No. 11/2008
- Klassifikation
-
Wirtschaft
Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Exhaustible Resources and Economic Development
Nonrenewable Resources and Conservation: Government Policy
- Thema
-
Essential nonrenewable resource
modified Hotelling Rule
economy-linked criterion
geometrically weighted percent
normative resource peak
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bazhanov, Andrei V.
- Ereignis
-
Veröffentlichung
- (wer)
-
Economics and Econometrics Research Institute (EERI)
- (wo)
-
Brussels
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bazhanov, Andrei V.
- Economics and Econometrics Research Institute (EERI)
Entstanden
- 2008
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