Constant Savings Rates and Quasi-Arithmetic Population Growth Under Exhaustible Resource Constraints
By G. Asheim, W. Buchholz, J. Hartwick, T. Mitra, Cees Withagen. Social Science Research Network, 2007
132 citations recorded by the source corpus.
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.
Subfields: Economics and Econometrics, Management, Monitoring, Policy and Law
View Paper: https://www.semanticscholar.org/paper/9a930bfe4792c380c6288d18b3c5d8bc08e1a411
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In Economics and Econometrics
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Citations in the corpus
- Natural Resources: Curse or Blessing? (2011, background): “Stiglitz 1974), but feasible with quasi-arithmetic population growth (Tapan Mitra 1983; Asheim et al. 2007).”