Please use this identifier to cite or link to this item:
http://hdl.handle.net/20.500.11861/6463
Title: | Interest rate and output price uncertainty and industry equilibrium for non-renewable resource extracting firms |
Authors: | Prof. YEUNG Wing Kay, David Hartwick, John M. |
Issue Date: | 1988 |
Source: | Resources and Energy, Mar. 1988, vol. 10(1), pp. 1-14. |
Journal: | Resources and Energy |
Abstract: | We establish convexity of a risk-neutral non-renewable resource extracting agent's value function in the future interest rate, a random variable. A preference by the agent for future interest rate uncertainty follows. A rational expectations, m identical firm industry equilibrium is characterized and the links between interest rate uncertainty and output price uncertainty are investigated. |
Type: | Peer Reviewed Journal Article |
URI: | http://hdl.handle.net/20.500.11861/6463 |
ISSN: | 0165-0572 |
DOI: | 10.1016/0165-0572(88)90002-3 |
Appears in Collections: | Economics and Finance - Publication |
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