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The green golden rule. (English) Zbl 0900.90122
Summary: We introduce a growth model with environmental assets as a source of utility and an input to consumption and production. In this model we develop the Green Golden Rule, a generalization of the golden rule of neoclassical growth theory. We apply this to the case where the object is the maximization of long-run or limiting utility rather than long-run consumption.

91B62 Economic growth models
91B76 Environmental economics (natural resource models, harvesting, pollution, etc.)
Full Text: DOI
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