National Wealth and NNP and Natural Resources and National Wealth and NNP
Hartwick, John M.
1993

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Abstract

Corresponding to current national wealth as discounted future optimal consumption (Weitzman [19761) we observe current national wealth to be the value of net accumulated stocks of capital. It follows that NNP can be interpreted as interest on national wealth. A constant value of wealth implies no net investment and NNP equals the value of consumption, the Hicksian notion of "income".

Details

Title
National Wealth and NNP and Natural Resources and National Wealth and NNP
Author(s)
Hartwick, John M.
Subject(s)
Issue Date
1993-05
Publication Type
Working or Discussion Paper
DOI and Other Identifiers
10.22004/ag.econ.275226
Record Identifier
https://ageconsearch.umn.edu/record/275226
Language
English
Total Pages
35
Series Statement
IER No.884
Record Appears in
Queen's University - Department of Economics > Queen's Institute for Economic Research Discussion Papers

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