Sustainable economic growth and exhaustible resources: A model and estimation for the US
This paper studies current models on sustainable economic growth with resource constraints and explores to what extent resource constraints can be overcome by substitution and technological change. We also study the problem of intergenerational equity and the different criteria that have been sugges...
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| Format: | Article |
| Language: | English |
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Wiley
2002-01-01
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| Series: | Discrete Dynamics in Nature and Society |
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| Online Access: | http://dx.doi.org/10.1080/1026022021000000248 |
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| _version_ | 1832562406992117760 |
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| author | Almuth Scholl Willi Semmler |
| author_facet | Almuth Scholl Willi Semmler |
| author_sort | Almuth Scholl |
| collection | DOAJ |
| description | This paper studies current models on sustainable economic growth with resource constraints and explores to what extent resource constraints can be overcome by substitution and technological change. We also study the problem of intergenerational equity and the different criteria that have been suggested in the literature. The central part of this paper is the presentation of stylized facts on exhaustible resources and an estimation of a basic model with resource constraints for US time series data. The estimated years left until depletion and the empirical trends of the ratios of capital stock and consumption to resources seem to indicate that there might be a threat to sustainable growth in the future. In our estimation, we obtain parameter values, which help to interpret the extent to which growth with exhaustible resources is sustainable. |
| format | Article |
| id | doaj-art-653d16928d3847bfb7e02cae41a828eb |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2002-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-653d16928d3847bfb7e02cae41a828eb2025-02-03T01:22:38ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2002-01-0172799210.1080/1026022021000000248Sustainable economic growth and exhaustible resources: A model and estimation for the USAlmuth Scholl0Willi Semmler1Department of Economics, Humboldt University, Berlin, GermanyCenter of Empirical Macroeconomics, Bielefeld, GermanyThis paper studies current models on sustainable economic growth with resource constraints and explores to what extent resource constraints can be overcome by substitution and technological change. We also study the problem of intergenerational equity and the different criteria that have been suggested in the literature. The central part of this paper is the presentation of stylized facts on exhaustible resources and an estimation of a basic model with resource constraints for US time series data. The estimated years left until depletion and the empirical trends of the ratios of capital stock and consumption to resources seem to indicate that there might be a threat to sustainable growth in the future. In our estimation, we obtain parameter values, which help to interpret the extent to which growth with exhaustible resources is sustainable.http://dx.doi.org/10.1080/1026022021000000248Resource; Consumption; Intergenerational; Economic growth. |
| spellingShingle | Almuth Scholl Willi Semmler Sustainable economic growth and exhaustible resources: A model and estimation for the US Discrete Dynamics in Nature and Society Resource; Consumption; Intergenerational; Economic growth. |
| title | Sustainable economic growth and exhaustible resources: A model and estimation for the US |
| title_full | Sustainable economic growth and exhaustible resources: A model and estimation for the US |
| title_fullStr | Sustainable economic growth and exhaustible resources: A model and estimation for the US |
| title_full_unstemmed | Sustainable economic growth and exhaustible resources: A model and estimation for the US |
| title_short | Sustainable economic growth and exhaustible resources: A model and estimation for the US |
| title_sort | sustainable economic growth and exhaustible resources a model and estimation for the us |
| topic | Resource; Consumption; Intergenerational; Economic growth. |
| url | http://dx.doi.org/10.1080/1026022021000000248 |
| work_keys_str_mv | AT almuthscholl sustainableeconomicgrowthandexhaustibleresourcesamodelandestimationfortheus AT willisemmler sustainableeconomicgrowthandexhaustibleresourcesamodelandestimationfortheus |