作者：Amigues, JP; Favard, P; Gaudet, G; Moreaux, M
作者单位：INRAE; Universite de Toulouse; Universite de Toulouse; Universite de Montreal; Universite de Montreal; Universite de Toulouse
摘要：Consider a general equilibrium framework where the marginal cost of extraction from several deposits of an exhaustible resource is constant in terms of an inexhaustible perfect substitute, and that this cost differs between deposits. The instantaneous rate of production from the inexhaustible resource is subject to a capacity constraint. We show, under standard assumptions, that not only may it be optimal to begin using a high cost resource before a lower cost one is depleted, as shown in Kemp...
作者：Cazzavillan, G; Lloyd-Braga, T; Pintus, PA
作者单位：Universita Ca Foscari Venezia; Universidade Catolica Portuguesa; CY Cergy Paris Universite
摘要：The purpose of this paper is to study the influence of the elasticity of capital-labor substitution and of the labor supply elasticity on the existence of multiple Pareto-ranked stationary equilibria, local indeterminacy, bifurcations, and expectations-driven fluctuations in economies with external and internal increasing returns to scale in production. This is done through general geometrical methods that do not depend upon particular specifications for preferences and technology. For the sak...
