The <i>Real</i>, real price of nonrenewable resources

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dc.contributor.authorSvedberg, P
dc.contributor.authorTilton, JE
dc.date.accessioned2025-01-21T01:06:20Z
dc.date.available2025-01-21T01:06:20Z
dc.date.issued2006
dc.description.abstractOver the past 40 years, economists have devoted considerable effort to estimating long-run trends in commodity prices. The results indicate that the real prices for many commodities have fallen, suggesting to the surprise of many that resource scarcity is declining over time. Almost all of this work, however, uses the US producer price index or other standard price deflators, which recent research shows overestimate inflation for several reasons. This article examines copper prices with adjusted deflators designed to eliminate this bias, It finds that the trend over time, which is significantly downward when no adjustment is made to the deflator, displays no tendency in either direction or is significantly upward depending on the magnitude of the deflator adjustment employed. These findings suggest that real resource prices provide less support than widely assumed for the hypothesis that resources are becoming more available or less scarce over time. (c) 2005 Elsevier Ltd. All rights reserved.
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.worlddev.2005.07.018
dc.identifier.issn0305-750X
dc.identifier.urihttps://doi.org/10.1016/j.worlddev.2005.07.018
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/96136
dc.identifier.wosidWOS:000236075500006
dc.issue.numero3
dc.language.isoen
dc.pagina.final519
dc.pagina.inicio501
dc.revistaWorld development
dc.rightsacceso restringido
dc.subjectreal price
dc.subjectnonrenewable resources
dc.subjectcopper
dc.subjectdepletion
dc.subjectminerals
dc.subject.ods11 Sustainable Cities and Communities
dc.subject.ods13 Climate Action
dc.subject.ods09 Industry, Innovation and Infrastructure
dc.subject.ods12 Responsible Consumption and Production
dc.subject.ods07 Affordable and Clean Energy
dc.subject.odspa11 Ciudades y comunidades sostenibles
dc.subject.odspa13 Acción por el clima
dc.subject.odspa09 Industria, innovación e infraestructura
dc.subject.odspa12 Producción y consumo responsable
dc.subject.odspa07 Energía asequible y no contaminante
dc.titleThe <i>Real</i>, real price of nonrenewable resources
dc.typeartículo
dc.volumen34
sipa.indexWOS
sipa.trazabilidadWOS;2025-01-12
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