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

Research output: Contribution to JournalArticleAcademicpeer-review

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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General Equilibrium
Inconsistency
Resources
Costs
Model
Trade
Exhaustible resources
Balance of payments
Dynamic inconsistency
General equilibrium

Cite this

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title = "Trading in exhaustible resources in the presence of conversion costs a general equilibrium approach",
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.",
author = "Chris Elbers and Cees Withagen",
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language = "English",
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Trading in exhaustible resources in the presence of conversion costs a general equilibrium approach. / Elbers, Chris; Withagen, Cees.

In: Journal of Economic Dynamics and Control, Vol. 8, No. 2, 1984, p. 197-209.

Research output: Contribution to JournalArticleAcademicpeer-review

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