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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/269

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contributor.authorValente, Simone-
description.abstractConflicts between efficiency and sustainability are typical in the literature on sustainable development. Using a ’capital-resource’ model of optimal growth, Pezzey and Withagen (1998) have proved that if natural capital is exhaustible, consumption falls in the long run. This paper presents a model with resource renewability, capital depreciation, population growth and technical progress. The main result is that non-declining consumption paths are feasible only if the social discount rate does not exceed the sum of the rates of resource regeneration and augmentation, net of population growth. Capital depreciation is neutral with respect to the feasibility of sustainable paths.en
format.extent171859 bytes-
relation.ispartofseriesQuaderni CEIS; 175-
subjectrenewable resources,en
subjectsustainable development,en
subjectoptimal growthen
subject.classificationSECS-P/06; Economia applicataen
titleRenewable resources and sustainable developmenten
subject.jelO11; Macroeconomic analyses of economic developmenten
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