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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