Resource depletion, national income accounting, and the value of optimal dynamic programs
Article Abstract:
A fundamental equation for the time rate of change of the optimal value function in an optimal control problem is derived using assumptions present in common economic problems. The equation is then applied to Hotelling's model of the resource extracting firm. Results indicate precise differences in rent, depreciation and depletion charges. This shows the possibility of competitively managed mines to appreciate while they are being exploited.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1995
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Mineral endowment, labor productivity, and comparative advantage in mining
Article Abstract:
According to mine level data on output and labor input, labor productivity in the U.S. copper mining industry tripled in 20 years from 1975. This could be attributed to new technology and innovation.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 2000
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Resource depletion under uncertainty: implications for mine depreciation, Hartwick's Rule and national accounting
Article Abstract:
The author offers a method of accounting for mine depreciation and and depletion under uncertain reserves, prices, and discount rates.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 2003
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