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| Author: | Agnani, B. Gutiérrez, M. J. Iza, A. |
| Title: | Growth in overlapping generation economies with non-renewable resources |
| Journal: | Journal of Environmental Economics and Management
2005 : SEP, VOL. 50:2, p. 387-407 |
| Index terms: | non-renewable resources overlapping-generations models |
| Language: | eng |
| Abstract: | This paper analyses the feasibility of the positive balanced-growth path in overlapping generation (OLG) economies that use exhaustible resources as essential inputs in the production process. Studied model is Diamond with non-renewable resources and exogenous technological progress. The major result is that the labour share has to be high enough for there to be a positive steady-state growth rate. Findings also show that the unique competitive balanced growth path is optimal in the Pareto sense. |
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