Scandinavian Working Papers in Economics

Memorandum,
Oslo University, Department of Economics

No 33/2002: On the sustainable program in Solow's model

Cees Withagen (), Geir B. Asheim and Wolfgang Buchholz ()
Additional contact information
Cees Withagen: Dept. of Economics,Tilburg University and Dept. of Econ., Free University,The Netherlands, Postal: De Boelelaan 1105,, 1081 HV Amsterdam, The Netherlands,
Geir B. Asheim: Dept. of Economics, University of Oslo, Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Wolfgang Buchholz: Dept. of Economics, University of Regensburg, Germany, Postal: 93040 Regensburg, Germany.,

Abstract: We show that our general result (Withagen and Asheim [8]) on the converse of Hartwick’s rule also applies for the special case of Solow’s model with one capital good and one exhaustible resource. Hence, the criticism by Cairns and Yang [1] of our paper is unfounded.

Keywords: Sustainabiliy; maximin path; Harwick’s rule

JEL-codes: D63; Q01; Q32

13 pages, June 19, 2003

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