Constant consumption and the economic depreciation of natural capital: The nonautonomous case
成果类型：
Article
署名作者：
Hartwick, JM; Van Long, N
署名单位：
Queens University - Canada; Universite de Montreal; McGill University
刊物名称：
INTERNATIONAL ECONOMIC REVIEW
ISSN/ISSBN：
0020-6598
DOI：
10.1111/1468-2354.00004
发表日期：
1999
页码：
53-62
关键词：
摘要：
We investigate economic depreciation of natural capital for cases of nonstationary output prices, technology, and interest rates. For the former two cases (exogenous movements in prices and technology), constant consumption emerges under a strategy of investing to cover off economic depreciation. The interest rate case requires a modified sinking fund strategy.
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