Natural resource prices: will they ever turn up?
Article Abstract:
The theory that natural resource rents will increase over time was tested using data series and time-series techniques. The resources studied are aluminum, coal, copper, iron, natural gas, petroleum, silver, zinc and lead. Resource rent is defined as the prices of resources before extraction. It was suggested that advances in resource extraction, higher supply and environmental regulations could have a negative effect on prices. The trend in price movements was shown to be dependent on whether the series were difference or trend stationary. The trend-stationary models imply rising prices while the difference-stationary models do not support a trend of rising prices.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1996
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Trends in natural resource commodity prices: deterministic or stochastic?
Article Abstract:
An outline of suggested procedures in evaluating the stationarity properties of selected natural resource commodities have been proposed to determine whether price trends are deterministic or stochastic. The autocorrelation functions for each commodity price series were firstdetermined. Through the help of the augmented Dickey-Fuller test for unit root evaluation, it was found out that six of the resources investigated, including aluminum, lead, nickel and zinc, were generated by trend stationary processes. The remaining commodities exhibited stochastic trends.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1997
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Strategic resource extraction, capital accumulation and overlapping generations
Article Abstract:
A model developed for the standard resource extraction framework which assumes infinitely lived agents and yields an over fishing result with an extension of Levhari-Mirman model to overlapping generations yields an extreme over fishing result is presented.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 2005
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