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Title: Long-Run Consequences of Population Decline in an Economy with Exhaustible Natural Resources
Authors: Mino, Kazuo
Sasaki, Hiroaki
Keywords: exhaustible natural resources
population decline
long-run growth
external increasing returns
Issue Date: Jun-2021
Publisher: Institute of Economic Research, Kyoto University
Journal title: KIER Discussion Paper
Volume: 1062
Start page: [1]
End page: 30
Abstract: This study explores how population decline affects the long-run performance of an economy in which exhaustible natural resources are indispensable in the process production. Using a one-sector neoclassical growth model with external increasing returns, we inspect the conditions under which the per capita income and consumption persistently expand in the long-run equilibrium. We find that it is population decline, rather than exhaustible resources, that might terminate persistent growth in per capita income and consumption.
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Appears in Collections:KIER Discussion Paper (English)

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