Natural Resource Modeling · 1990 · 28 citations · 15 references
Social SciencesEconomicsResource EconomicsProduction EconomicsEconomic GrowthGrowth TheoryProduction FunctionsProduction TheoryProductivity AnalysisResource AccumulationEconomic Growth DynamicsExhaustibility ConstraintsExhaustible Resource TheoryMaterial ProductivityNeoclassical EconomicsNeoclassical Growth ModelNeoclassical Growth Theory
The materials‐balance production function proposed in this paper is a modified Cobb‐Douglas‐type function which is as neoclassical in nature as materials‐balance considerations would seem to permit. Incorporation of such a production function in a neoclassical growth model severely limits the growth potential of an economy with exhaustible resources.
15