Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/90766
Authors: 
Mitra, Tapan
Asheim, Geir B.
Buchholz, Wolfgang
Withagen, Cees
Year of Publication: 
2012
Series/Report no.: 
Memorandum, Department of Economics, University of Oslo 08/2012
Abstract: 
The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the sustainability problem in this model without reference to the time path. As a byproduct we show general existence of a maximin optimal path under weaker conditions that those employed in previous work. Our proofs yield new insights into the meaning and significance of Hartwick's reinvestment rule.
Subjects: 
Sustainability
Maximin
JEL: 
O10
Q32
Document Type: 
Working Paper

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