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- W2011663041 abstract "This note offers a general proof of the converse of Hartwick's rule, namely that – in an economy with stationary instantaneous preferences and a stationary technology – an efficient constant utility path is characterized by the value of net investments being zero at each point in time. In a one consumption economy with two stocks – a stock of a natural resource and a stock of man-made capital – this means that if consumption remains constant at the maximum sustainable level, then the accumulation of man-made capital always exactly compensates in value for the depletion of the natural resource." @default.
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- W2011663041 date "1998-09-01" @default.
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- W2011663041 title "Characterizing sustainability: The converse of Hartwick's rule" @default.
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- W2011663041 doi "https://doi.org/10.1016/s0165-1889(97)00109-7" @default.
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