Essays on the economics of non renewable resources PDF Download

Author: Sid Ahmed Rida Guermouche
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 472

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Author: Erwin Hendricus Bulte
Publisher:
ISBN: 9789054856993
Category : Biology, Economic
Languages : en
Pages : 283

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Author: Rémi Morin Chassé
Publisher:
ISBN: 9781369094404
Category : Capital
Languages : en
Pages : 81

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In the first essay, we consider a firm with limited-liability and whose profits are a function of valuable productive capital. Environmental accidents of random sizes can occur at random times. To pay for the liability from an accident, the firm sells some or all of its productive capital; it becomes judgment-proof when the liability exceeds the value of its capital. The remainder of the liability, left unpaid by the bankrupted firm, is paid for by society. Using a dynamic framework with exogenous arrival, we derive closed-form solutions for the firm's return from its assets and for social costs. The firm's return is convex in the level of productive capital. By setting up a bonding requirement, the legislator ensures the firm, not society, bears the expected costs of accidents ex-ante. It may optimal to reduce the liability transferred back to the firm and possibly to subsidize it. When arrival is endogenous, there can be an optimal firm-size for specific cases. The associated social costs reach a maximum when assets equal the expected magnitude of damages. In the second essay, we study sustainability using a neoclassical growth approach. Our analysis focuses on the role of energy in the economy. Society uses renewable and non-renewable energies, with the use of the latter generating undesirable pollution. Renewable energies, available at zero marginal cost, are conditional upon the existence of a generating capacity, which requires investment. In a numerical simulation, we find that it can be optimal for society to stop using non-renewable energies and switch completely to renewable energies even though the non-renewable resource stock is not fully exhausted. In the final carbon-free phase, the dynamic system is a saddle-path. We find that a moratorium on renewable resource expansion is not beneficial; society is better off investing in this resource every year, albeit at a lower rate, than to postpone investment. Society must be relatively averse to intergeneration inequity with an elasticity of inter-temporal substitution must be greater than one to ensure that the steady-state level of renewable energy capacity is non-zero.

Author: R. Halvorsen
Publisher: Edward Elgar Publishing
ISBN: 1847202969
Category : Business & Economics
Languages : en
Pages : 275

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This volume contains an excellent set of papers by top scholars in environmental and resource economics. These papers span the wide range of topics that characterized the extraordinarily broad and productive career of Gardner Brown. They bring current issues in modeling important environmental policy questions into sharp focus in a way that emphasizes Brown s seminal insights. Richard Carson, University of California, San Diego, US I am glad this book has been written. Gardner is clearly too radical to get a statue and I doubt he would have the patience to sit long enough for the sculptor to finish. Yet Gardner s ideas really deserve remembrance. The editors have managed not only to cover many of the areas and methods Gardner worked with but also to find authors who loved and/or respected him and who have honoured him by providing high quality work in his spirit. The book is imbued with those curious blends of curiosity and rigour, daring abstraction and yet painstaking attention to detail that are so characteristic of Gardner s work. It was a great pleasure to read. Thomas Sterner, University of Gothenburg, Sweden Gardner M. Brown, Jr. has been a leading innovator in the development of environmental and natural resource economics. This book comprises essays written in his honor by some of the most distinguished economists working in this field. The principal themes addressed include fundamental theoretical and empirical issues in the valuation of environmental and natural resources; the relationships between economic growth, natural resources and environmental quality; re-evaluation of some standard results in the dynamic modeling of renewable and non-renewable resources; the protection and management of biological resources; and the economics of antibiotic resistance. The original papers within this book will be of great interest to academics and practitioners in the field of environmental and natural resource economics.

Author: Robert Halvorsen
Publisher: Edward Elgar Publishing
ISBN: 9781781952238
Category : Nonrenewable natural resources
Languages : en
Pages : 0

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Book Description
The economics of nonrenewable resources addresses some of the most problematic issues concerning the sustainability of the world economy. This comprehensive one volume collection contains forty-six of the most important and influential journal articles by some of the leading scholars in the field. Subjects included are: an introduction to the economics of nonrenewable resources; theoretical foundations for the field; nonhomogeneous resources; exploration and uncertainty; market structure; taxation and global climate change. The collection concludes with a discussion of the empirical research and the extent to which nonrenewable resources constrain economic growth as well as the consistency of the theoretical predictions of Hotelling-type models with actual economic outcomes. With an original introduction by the editor, this collection will be an important resource for students, academics and practitioners.

Author: Horst Niemes
Publisher: Springer Science & Business Media
ISBN: 379082416X
Category : Business & Economics
Languages : en
Pages : 219

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This book lies at the intersection of natural sciences, economics, and water en- neering and is in line with the long tradition of environmental economics at the University of Heidelberg. In the 1970s, the Neo-Austrian Capital Theory was developed using the fundamental laws of thermodynamics as a common language between the natural and social sciences. Niemes (1981) integrated the dynamic and irreversibility characteristics of the natural environment into the Neo-Austrian c- ital theory. Faber et al. (1983, 1987, 1995) then extended this interdisciplinary approach further to create a comprehensive, dynamic, environmental resource model. Over the last 3 decades, the theoretical foundations of environmental economics have been modi ed and there have been an impressive variety of applications. This book aims to reduce the gaps between economic theory, natural sciences, and engineering practice. One of the reasons these gaps exist is because economic assumptions are used to construct dynamic environmental and resource models, which are not consistent with the fundamental laws of the natural sciences. Another reason for the gap might be the distance between academic theory and real world situations. Based on an extended thermodynamic approach, the authors explain which economic assumptions are acceptable for constructing a dynamic model that is consistent with the natural sciences. In particular, the special role of water in the production and reproduction activities will be considered as an integral component.

Author: Anthony C. Fisher
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 424

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Book Description
This volume features essays dealing with a range of theoretical, measurement and policy issues in environmental and resource economics. Focusing on the integration of environmental considerations into decisions about extractive resource use, both in theory and practice, the essays range from exercises in the pure theory of resource depletion, to applications of theoretical and empirical techniques and the management of resources. Particular attention is given to uncertainty about environmental values and the irreversibility of certain kinds of resource depletion. The volume should be of interest to researchers, practitioners and policy makers.

Author: N.V. Long
Publisher: Elsevier
ISBN: 1483294951
Category : Science
Languages : en
Pages : 260

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Essays in the Economics of Exhaustible Resources

Author: Jakub Growiec
Publisher: Presses univ. de Louvain
ISBN: 9782874630859
Category : Business & Economics
Languages : en
Pages : 192

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This thesis covers a broad range of topics in the general area of economic growth theory and economics of technological change. It is primarily about the ultimate sources of growth and its ultimate limitations. We scrutinize the implications of several specifications of long-run growth “engines” found in the theoretical literature and put forward their generalizations and extensions. At the highest level of generality, we provide a formal proof that balanced (i.e. exponential) growth requires knife-edge assumptions which cannot be satisfied by typical values of model parameters. This result implies that at least one such knife-edge assumption must be made if a given model is supposed to deliver balanced growth over the long run. Next, we deal with the issue of resource-based limits to long-run growth. We propose to promote technological progress which would improve the substitutability between non-renewable and renewable resources: if the elasticity of substitution between the two kinds of resources exceeds unity, production will not fall down to zero even after the non-renewable resources will have been completely depleted. Another question asked is whether it is plausible that R&D-based growth, fueled by steady increases in the world’s population, can be extended into indefinite time. We answer this question by introducing endogenous fertility choice, with population entering the utility functional multiplicatively, into an R&D-based semi-endogenous growth model. The next issue addressed here are the idea-based microfoundations of aggregate production functions. We discuss the correspondence between the shape of production functions, the direction of technical change, and the possibility of sustained endogenous growth. A broad class of production functions, nesting both the Cobb-Douglas and the CES function, is derived. Finally, we discuss the impact of the heterogeneity of innovations on long-run economic dynamics: we augment the semi-endogenous growth model with a distinction between radical and incremental innovations. Total R&D output is assumed to depend on technological opportunity which is depleted by incremental innovations but renewed by radical innovations. The dynamic interplay of the arrivals of the two types of innovations is shown to give rise to transitional oscillations.

Author: John F. Helliwell
Publisher: Oxford : Clarendon Press
ISBN:
Category : Language Arts & Disciplines
Languages : en
Pages : 456

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Book Description
This book provides a broad survey of the progress made in the economics of natural resources, both theoretical and applied, and covers renewable, non-renewable, common property, and macro problems.