Characterizing sustainability: The conve
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Cees Withagen; Geir B. Asheim
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Article
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1998
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Elsevier Science
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English
β 102 KB
This note offers a general proof of the converse of Hartwick's rule, namely thatin an economy with stationary instantaneous preferences and a stationary technologyan efficient constant utility path is characterized by the value of net investments being zero at each point in time. In a one consumptio