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Renewable resources in an endogenously growing economy : balanced growth and transitional dynamics

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dc.contributor Turnovsky, Stephen J. is
dc.contributor.author Lúðvík Elíasson 1969 is
dc.date.accessioned 2013-12-20T10:29:41Z
dc.date.available 2013-12-20T10:29:41Z
dc.date.issued 2002-11
dc.identifier.issn 1028-9445
dc.identifier.uri http://hdl.handle.net/10802/4742
dc.description Myndefni: línurit, töflur is
dc.description.abstract We introduce a renewable resource sector into an endogenous growth model of a small economy, deriving the transitional dynamic equilibrium. The model generates a long-run balanced growth path along which a resource sector of limited size can coexist with constant ongoing growth elsewhere. The key feature of the model is the allocation of labor between harvesting the resource and its use in the final output sector. We examine both the dynamic and long-run responses of the economy to various shocks pertaining to technological production conditions and resource sector parameters and show how they can generate sharply contrasting transitional adjustment paths. en
dc.format.extent [1], 35 s. is
dc.language.iso en
dc.publisher Central Bank of Iceland, Economics Department is
dc.relation.ispartofseries Central Bank of Iceland., Working papers ; 20
dc.relation.uri http://www.sedlabanki.is/uploads/files/WP-20.pdf
dc.subject Efnahagsmál is
dc.subject Efnahagsþróun is
dc.subject Líkön is
dc.subject Skýrslur is
dc.title Renewable resources in an endogenously growing economy : balanced growth and transitional dynamics en
dc.type Skýrsla is
dc.identifier.gegnir 000251250


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