Trading in exhaustible resources in the presence of conversion costs : a general equilibrium approach

C. Elbers, C.A.A.M. Withagen

Research output: Contribution to journalArticleAcademicpeer-review

4 Citations (Scopus)

Abstract

We survey the literature on the general equilibrium approach to trade in exhaustible resources and present a model in which conversion costs are incorporated and in which the usual balance of payments condition is relaxed. It is found that in many cases the problem of dynamic inconsistency will arise.
Original languageEnglish
Pages (from-to)197-209
Number of pages13
JournalJournal of Economic Dynamics and Control
Volume8
Issue number2
DOIs
Publication statusPublished - 1984

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