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The Duality of Hotelling Rent and Economic Depreciation, and Growth Accounting with Exhaustible Resources

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  • John M. Hartwick

Abstract

Along dynamically efficient paths of exhaustible resources extraction Hotelling rent and economic depreciation (with a negative sign) of the stock are equal. We make use of this in analyzing current practices in national income accounting. We indicate that placing Hotelling rent on the income side is not sensible. The negative entry, economic depreciation of the stocks, should be placed on the product side.

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  • John M. Hartwick, 1988. "The Duality of Hotelling Rent and Economic Depreciation, and Growth Accounting with Exhaustible Resources," Working Paper 712, Economics Department, Queen's University.
    • Handle: RePEc:qed:wpaper:712
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    Cited by:

    1. Youmanli Ouoba, 2023. "Testing the necessary conditions for sustainability in the mining sector in Burkina Faso," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 36(1), pages 1-12, January.

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