Intertemporal Resource Economics: An Introduction to the Overlapping Generations Approach

Karl Farmer; Birgit Bednar-Friedl

ISBN 10: 3642132286 / ISBN 13: 9783642132285

Published by Springer, 2010

About this Item

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.

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Bibliographic Details

• Title: Intertemporal Resource Economics: An Introduction to the Overlapping Generations Approach
• Publisher: Springer
• Publication Date: 2010
• Language: English
• ISBN 10: 3642132286
• ISBN 13: 9783642132285
• Binding: Hardcover
• Edition: 1st Edition
• Condition: Near Fine

About this title

Synopsis

Basics.- Economic Growth and Natural Resources.- Efficiency and Market Equilibrium under Resource Abundance.- Intergenerational Efficiency in Log-linear Cobb-Douglas OLG Models.- Intertemporal Market Equilibrium and Short-Run Intergenerational Efficiency.- Steady-State Market Equilibrium, Long-Run Intergenerational Efficiency, and Optimality.- Efficiency and Market Equilibrium with Scarce Renewable Resources.- Renewable Resources and Intergenerational Efficiency.- Intertemporal Market Equilibrium and Intergenerational Efficiency with Renewable Resources.- Intergenerational Equity and Market Equilibrium with Scarce Renewable Resources.- Sustainable Economic Growth with Linear Resource Regeneration.- Steady-State Sustainability under Logistically Regenerating Resources.- Shocks to Harvest Technology and Natural Regeneration.- Resource Use with Physical Harvest Costs.- Effects of Harvest Cost and Biological Shocks.

About the Author

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