On the Peaking of Consumption with Exhaustible Resources and Zero Net Investment
On the Peaking of Consumption with Exhaustible Resources and Zero Net Investment
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论资源枯竭、净投资为零的消费见峰
DOI：
10.1023/a:1022986119310
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发表时间：
2003
影响因子：
5.9
通讯作者：
H. Tian
中科院分区：
文献类型：
--
作者：
J. Hartwick;Ngo van Long;H. Tian
我们研究了一个具有可耗尽资源流入的跨期模型，该模型在发展路径上呈现出单一的消费峰值。 Thepeak 遵循净投资为零的日期。当贴现率较低时，消费的“顶部”更高、更平坦，达到峰值的时间也更晚。可耗竭资源存量的“低”禀赋（以及“高”贴现率）与严格下降的消费路径相关。
We investigate an intertemporal model with an exhaustible resource inflowwhich exhibits a single peak in consumption on the path of development. Thepeak follows the date at which net investment is zero. The ``top'' ofconsumption is higher and flatter and peaks later when the discount rate islower. ``Low'' endowments of the exhaustible resource stock (and ``high''discount rates) are associated with strictly declining consumption paths.