Nonrenewable resource scarcity
JA Krautkraemer - Journal of Economic literature, 1998 - JSTOR
T HE OPENING SENTENCES of Hotelling's seminal article on the econom-ics of
nonrenewable resource extraction highlight the recurring theme of the possible …
nonrenewable resource extraction highlight the recurring theme of the possible …
Natural resource economics under the rule of Hotelling
G Gaudet - … Journal of Economics/Revue canadienne d' …, 2007 - Wiley Online Library
Natural resource stocks held in situ are physical assets. Equilibrium in the assets market
requires that their rates of return be such that their owners are just willing to hold on to them …
requires that their rates of return be such that their owners are just willing to hold on to them …
On the empirical significance of the Hotelling rule
J Livernois - Review of Environmental Economics and policy, 2009 - journals.uchicago.edu
Abstract The Hotelling Rule—that price net of marginal cost must rise at the rate of interest in
nonrenewable resource markets—forms the theoretical core of the economics of …
nonrenewable resource markets—forms the theoretical core of the economics of …
The cost-efficiency carbon pricing puzzle
C Gollier - 2021 - papers.ssrn.com
Any global temperature target must be translated into an intertemporal carbon budget and its
associated cost-efficient carbon price schedule. Under the Hotelling's rule, the growth rate of …
associated cost-efficient carbon price schedule. Under the Hotelling's rule, the growth rate of …
Hotelling confronts CAPM: a test of the theory of exhaustible resources
A model of pricing of natural-resource commodities that integrates financial and product
markets is derived and tested. The model unifies two strands of the economic and financial …
markets is derived and tested. The model unifies two strands of the economic and financial …
[HTML][HTML] The elephant in the ground: managing oil and sovereign wealth
T Van den Bremer, F van der Ploeg, S Wills - European Economic Review, 2016 - Elsevier
One of the most important developments in international finance and resource economics in
the past twenty years is the rapid and widespread emergence of the $6 trillion sovereign …
the past twenty years is the rapid and widespread emergence of the $6 trillion sovereign …
A test of the Hotelling rule using old‐growth timber data
J Livernois, H Thille, X Zhang - Canadian Journal of Economics …, 2006 - Wiley Online Library
The paper tests Hotelling's prediction that scarcity rent for a non‐renewable resource will
rise at the rate of discount in a market equilibrium. We perform the test using data for old …
rise at the rate of discount in a market equilibrium. We perform the test using data for old …
The lognormal diffusion is hardly an equilibrium price process for exhaustible resources
D Lund - Journal of Environmental Economics and Management, 1993 - Elsevier
In a model of a competitive spot market for an exhaustible resource under demand
uncertainty, it is shown that the lognormal diffusion (the geometrical Brownian motion) can …
uncertainty, it is shown that the lognormal diffusion (the geometrical Brownian motion) can …
Optimally eating a stochastic cake: a recursive utility approach
A Epaulard, A Pommeret - Resource and energy economics, 2003 - Elsevier
In this short paper, uncertainties on resource stock and on technical progress are introduced
into an intertemporal equilibrium model of optimal extraction of a non-renewable resource …
into an intertemporal equilibrium model of optimal extraction of a non-renewable resource …
Empirical testing of a risk-adjusted Hotelling model
D Young, DL Ryan - Resource and Energy Economics, 1996 - Elsevier
The Hotelling model of the optimal depletion of an exhaustible resource specifies that in a
world without risk, equilibrium rates of return on nonrenewable resource assets and on …
world without risk, equilibrium rates of return on nonrenewable resource assets and on …