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Reconsidering the Dynamic Interaction of Renewable Resources and Population Growth: A Focus on Long-Run Sustainability |
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| Authors: | Alexia Prskawetz Alessandra Gragnani Gustav Feichtinger |
| Institution: | (1) Max Planck Institute for Demographic Research, Doberanerstr. 114, 18057 Rostock, Germany;(2) Department of Electronics and Computing, Politecnico of Milano, Via Ponzio 34/5, 20133 Milano, Italy;(3) Institute for Econometrics, Operations Research and Systems Theory, Vienna University of Technology, Argentinierstr. 8, 1040 Vienna, Austria |
| Abstract: | Within the framework of a general equilibrium model we study the long-run dynamics of resources and population if the growth rate of resources and population and the share of labor devoted to production are adversely affected by resource scarcity. Our results show that sustainability, i.e. a positive value of resources and population in the long run, essentially depends on the level of per capita resources at which these feedback mechanisms become active. A detailed bifurcation analysis evidences the richness of possible long-run dynamics. |
| Keywords: | renewable resource scarcity endogenous population growth sustainability dynamic models local bifurcation theory |
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