Intertemporal Resource Economics: An Introduction to the Overlapping Generations Approach

Karl Farmer; Birgit Bednar-Friedl

ISBN 10: 3642132286 / ISBN 13: 9783642132285

Editore: Springer, 2010

Riguardo questo articolo

Hardcover, x + 173 pages, NOT ex-library. Book looks unread, clean and bright throughout with unmarked text, free of inscriptions and stamps, firmly bound. Issued without a dust jacket. -- Contents [Introduction & Conclusions & References in each chapter]: Part I Basics 1 Introduction [Motivation; Natural Resources and the Economic Production Process; Natural Resources in the History of Economic Thought; Resource Scarcity, Market Equilibrium, Intergenerational Efficiency and Equity; General Equilibrium Models; Outline of the Book] 2 Economic Growth and Natural Resources [Economic Growth and the Use of Natural Resources: Differing Views; Political Economics of GDP Growth: A Digression; Economic Growth and Non-Renewable Resources: An Overview]; Part II Efficiency and Market Equilibrium under Resource Abundance 3 Intergenerational Efficiency in Log-linear Cobb-Douglas OLG Models [Log-Linear Cobb-Douglas OLG Economy; Intergenerational Efficiency; First Order Conditions for Short-Run Intergenerational Efficiency; Graphical Illustration of FOCs for Short-Run Intergenerationally Efficient Allocation] 4 Intertemporal Market Equilibrium and Short-Run Intergenerational Efficiency [Institutional Framework; Individual Optimization Problems; Market Clearing Conditions; Intertemporal Equilibrium Dynamics; Short-Run Intergenerational Efficiency of the Intertemporal Market Equilibrium] 5 Steady-State Market Equilibrium, Long-Run Intergenerational Efficiency, and Optimality [Steady-State Market Equilibrium; Long-Run Intergenerational Efficiency; Long-Run Intergenerational (In-)Efficiency of Steady-State Market Equilibrium; Intergenerational Efficiency versus Intergenerational Optimality; Steady-State Economic Growth and Resource Saving Technological Progress] Part III Efficiency and Market Equilibrium with Scarce Renewable Resources 6 Renewable Resources and Intergenerational Efficiency [Regeneration Function; Harvest Cost Function; Short-Run Intergenerationally Efficient Resource Harvesting; FOCs for Short-Run Intergenerational Efficiency; Long-Run Intergenerational Efficiency] 7 Intertemporal Market Equilibrium and Intergenerational Efficiency with Renewable Resources [Intertemporal Market Equilibrium with a Privately Owned Resource; Perfectly Competitive Markets with an Open-Access Renewable Resource; Market Equilibrium and Intergenerational Efficiency under Opposing Property Rights Regimes]; Part IV Intergenerational Equity and Market Equilibrium with Scarce Renewable Resources 8 Sustainable Economic Growth with Linear Resource Regeneration [Individual Optimization and Market Clearing under Linear Regeneration; Derivation of Intertemporal Equilibrium Dynamics; Intertemporal-Equilibrium and Steady-State Growth Rates; A Sustainable Economic Growth Path; Feasibility of Sustainable Growth and Sustainability Policy in Market Systems] 9 Steady-State Sustainability under Logistically Regenerating Resources [Log-Linear CD OLG Model with Logistic Regeneration; Intertemporal Equilibrium Dynamics; Existence of (Non-Trivial) Steady States; Stability of the Steady States; Saddle Paths Converging to the Non-Trivial Steady State]; Part V Shocks to Harvest Technology and Natural Regeneration 10 Resource Use with Physical Harvest Costs [An OLG model with Harvest Costs; Derivation of Intertemporal Equilibrium Loci; Existence of Non-Trivial Steady State; Long-Run Intergenerational Efficiency of Non-Trivial Steady State; Stability of Non-Trivial Steady State; Uniqueness of Non-Trivial Steady State; Appendix A: Individual Optimization and Market Clearing Conditions with Endogenous Labor Supply; Appendix B: Proof to Lemma 10.1] 11 Effects of Harvest Cost and Biological Shocks [Steady-State Effects of Cost and Biological Shocks; Transitional Dynamics towards the New Steady State; A Comparison of a Harvest Cost Push and a Biological Shock; Appendix: GAMS Code to Analyze the Model]; Index.

Codice articolo 011256

Dati bibliografici

• Titolo: Intertemporal Resource Economics: An Introduction to the Overlapping Generations Approach
• Editore: Springer
• Data di pubblicazione: 2010
• Lingua: Inglese
• ISBN 10: 3642132286
• ISBN 13: 9783642132285
• Rilegatura: Hardcover
• Edizione: 1st Edition
• Condizione: Near Fine

Descrizione articolo

Riassunto

This monograph provides a concise introduction to the overlapping generations approach to the intertemporal economics of renewable natural resources. In contrast to the dominant infinitely-lived agent (ILA) approach it acknowledges that natural resources typically out-live the individuals who use them. Finite lifetimes, generations overlap and competing natural and man-made capital facilitate long-run intergenerational inefficiency and inequity (unsustainability) of market allocations. While avoiding any presumption of either doomsday or a golden age, the book investigates the structural and institutional preconditions needed to ensure that renewable resources are used efficiently and equitably across generations. The primary aim of this book is to provide an easy-to-follow guide to the analytically much more demanding journal literature. This is achieved by using the same model type throughout the book and by adhering to functional specifications that allow for explicit equilibrium solutions.

Informazioni sull?autore

Professor Dr. Karl Farmer, Department Chair Karl-Franzens-University, Graz, AustriaDr. Birgit Bednar-Friedl, Researcher, Wegener Center for Climate and Global Change, Karl-Franzens-University, Graz, Austria