haku: @author Scholz, C. / yhteensä: 16
viite: 4 / 16
| Tekijä: | Scholz, C. Ziemes, G. |
| Otsikko: | Exhaustible resources, monopolistic competition, and endogenous growth |
| Lehti: | Environmental and Resource Economics
1999 : MAR, VOL. 13:2, p. 169-185 |
| Asiasana: | NATURAL RESOURCES MONOPOLY COMPETITION |
| Kieli: | eng |
| Tiivistelmä: | One of the central analytical findings of the growth literature is that continuous growth is possible even in an economy with exhaustible resources. Based on this results, this paper addresses the question of whether different equilibrium trajectories which lead to a balanced growth path are possible within an endogenous growth model with incomplete competition. Although the Solow-Stiglitz condition is violated due to a monopolistic sector, the authors nevertheless demonstrate that steady growth in per capita consumption is possible under the condition that the rate of entry of new monopolists exceeds that of the average monopolist's decline in output. |
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