Renewable Resources and Economic Sustainability: A Dynamic Analysis with Heterogeneous Time Preferences
作者： Chuan-Zhong Li , Karl-Gustaf Löfgren
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摘要: Abstract In recent years there has been increasing interest in the study of economic sustainability and its relationship with natural resources. This paper attempts to shed some light on issue by taking into account individual variations time preferences for consumption resource amenity. We characterize long-run steady state, analyze asymptotic stability, explore transational dynamics from any initial state. The welfare implications optimal path are also discussed.
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