The model presented in this paper studies the presence of closed orbits that signal economic fluctuations and periodic solutions around the steady state. The problem is to understand the mechanism that leads to an indeterminate equilibrium in presence of natural resource use, and therefore suggest the emergence of a poverty-environment trap.
Periodic solutions in the dynamics of an optimal resource extraction model
BELLA, GIOVANNI
2010-01-01
Abstract
The model presented in this paper studies the presence of closed orbits that signal economic fluctuations and periodic solutions around the steady state. The problem is to understand the mechanism that leads to an indeterminate equilibrium in presence of natural resource use, and therefore suggest the emergence of a poverty-environment trap.
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