Capital depreciation and waste accumulation in capital-resource economies
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Published online: 16 Dec 2010In this article, we investigate how the depreciation of a manufactured stock and the related accumulation of a waste stock can alter the optimal path of the capital-resource economy. It is shown that the optimal consumption path is affected by how the disuse pattern of the manufactured stock in question is distributed, specifically with forward-looking terms.
- Applied Economics Letters
Applied Economics Letters 18(6), 519-522, 2011-04-08
Taylor & Francis Group