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dc.contributor.authorWei, Taoyuan
dc.date.accessioned2017-11-10T13:07:32Z
dc.date.available2017-11-10T13:07:32Z
dc.date.created2012-01-18T09:56:49Z
dc.date.issued2012
dc.identifier.citationEnvironmental and Resource Economics. 2012, 52 (2), 293-300.nb_NO
dc.identifier.issn0924-6460
dc.identifier.urihttp://hdl.handle.net/11250/2465565
dc.descriptionThe final publication is available at Springernb_NO
dc.description.abstractShould capital gains be included in income arising from nonrenewable resources? In the present paper, I show that capital gains from a nonrenewable resource can be divided into two terms: real price change effects and real interest rate change effects. By application of sectoral income theory developed by Asheim and Wei (Environ Res Econ 42:65–87, 2009), only the former term is part of real income of the resource and the latter term should not be included. This result is significant in the sense that all change in real resource wealth can be included as part of real income only if future real interest rates are assumed to be constant. Hotelling rule always implies that capital gains from nonrenewable resources coincide with real interests on resource wealth; net investment generated from the resource cancels out current cash flow from the resource; and real income comes from price change effects.nb_NO
dc.language.isoengnb_NO
dc.titleCapital Gains and Income Arising from Nonrenewable Resourcesnb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.description.versionsubmittedVersionnb_NO
dc.source.pagenumber293-300nb_NO
dc.source.volume52nb_NO
dc.source.journalEnvironmental and Resource Economicsnb_NO
dc.source.issue2nb_NO
dc.identifier.doi10.1007/s10640-011-9531-5
dc.identifier.cristin888583
dc.relation.projectNorges forskningsråd: 209701nb_NO
cristin.unitcode7475,0,0,0
cristin.unitnameCICERO Senter for klimaforskning
cristin.ispublishedtrue
cristin.fulltextpreprint
cristin.qualitycode1


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