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.

Mineral deposits, Mines and mineral resources, Mining, Nonrenewable natural resources, Nonrenewable resources, Income accounting

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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.

United States, Production data, Primary copper, Copper, Primary Smelting and Refining of Copper, Statistical Data Included, Usage, Economic aspects, Copper industry, Observations, Technology, Copper products, Technical, Labor productivity

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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.

Canada, Science & research, Taxes, Capital funds & cash flow, All Other Metal Ore Mining, Ferroalloy ores, except vanadium, Ferroalloy Ores, Capital Management-Depreciation, Chemical and Fertilizer Minerals, Chemical & Fertilizer Minerals, Other Nonmetallic Mineral Mining and Quarrying, Taxation, Accounting and auditing, Nonmetal mining, Ores, Fertilizers, Depreciation, Mineral industry, Government accounting, Ferroalloys, Depletion allowances

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