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Constant savings rates and quasi-arithmetic population growth under exhaustible resource constraints

Asheim, Geir B. ; Buchholz, Wolfgang ; Hartwick, John M. ; Mitra, Tapan


In the Dasgupta–Heal–Solow–Stiglitz (DHSS) model of capital accumulation and resource depletion we show the following equivalence: if an efficient path has constant (gross and net of population growth) savings rates, then population growth must be quasi-arithmetic and the path is a maximin or a classical utilitarian optimum. Conversely, if a path is optimal according to maximin or classical ...


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