Reading list
In addition to the readings below, all printed lecture notes that are posted on the website of the course are part of the syllabus.
Textbook
Perman, R., Y. Ma, J. McGilvray and M. Common: Natural Resource and Environmental Economics, 4th Ed., 2011. Pearson Education Ltd.
Articles and other texts
This is a preliminary list. There may be changes to the articles and other texts. A * marks Daniel Spiro's part of the course and the rest are Michael Hoel's.
*Bohn, H. and Deacon, R. T. (2000). Ownership risk, investment, and the use of natural resources. The American Economic Review, 90(3):526–549.
Burgess, R., Hansen, M., Olken, B. A., Potapov, P, and Sieber, S. (2012). The Political Economy of Deforestation in the Tropics. The Quarterly Journal of Economics, 127 (4): 1707-1754.
*Cairns, R. D. (1990). The economics of exploration for non-renewable resources. Journal of Economic Surveys, 4(4):361–395.
*Dasgupta, P. and Heal, G. (1974). The optimal depletion of exhaustible resources. The review of economic studies, 41:3–28.
*Farzin, Y. H. (1992). The time path of scarcity rent in the theory of exhaustible resources. The Economic Journal, 102(413):813-830.
Førsund, F.R. (2013), Hydropower Economics: An Overview. In J. Shogren (ed.) Encyclopedia of Energy, Natural Resource, and Environmental Economics; Volume 1: Energy; pp. 200-208. http://www.sciencedirect.com/science/article/pii/B9780123750679000954
Greaker, M., Hoel, M. and Rosendahl, K.E. (2014), Does a Renewable Fuel Standard for Biofuels Reduce Climate Costs? JAERE, forthcoming.
*Harstad, B. (2012). Buy coal! a case for supply-side environmental policy. Journal of Political Economy, 120(1):77–115.
*Hart, R. and Spiro, D. (2011). The elephant in hotelling’s room. Energy Policy, 39(12):7834–7838.
*Hartwick, J. M. (1977). Intergenerational equity and the investing of rents from exhaustible resources. The American Economic Review, 67(5):972–974.
*Hassler, J., Krusell, P., and Olovsson, C. (2012). Energy-saving technical change. Technical report, National Bureau of Economic Research.
*Heal, G. (1976). The relationship between price and extraction cost for a resource with a backstop technology. The Bell Journal of Economics, pages 371–378.
*Heal, G. and Barrow, M. (1980). The relationship between interest rates and metal price movements. The Review of Economic Studies, 47(1):161–181.
Hoel, M. (2011), The Supply Side of CO2 with Country Heterogeneity, Scandinavian Journal of Economics, 113, pp 846–865. http://onlinelibrary.wiley.com/doi/10.1111/j.1467-9442.2011.01682.x/full
Hoel, M. (2014), Supply Side Climate Policy and the Green Paradox. In Karen Pittel, Frederick van der Ploeg and Cees Withagen (eds.): Climate Policy and Nonrenewable Resources; The Green Paradox and Beyond . The MIT press, forthcoming. Also available as CESifo Working Paper No. 4094.
Hoel, M., Holtsmark, B. and Holtsmark, K. (2014), Faustmann and the Climate", Journal of Forest Economics, 20, pp 192–210. http://www.sciencedirect.com/science/article/pii/S110468991400018X
*Hoel, M. and Kverndokk, S. (1996). Depletion of fossil fuels and the impacts of global warming. Resource and Energy Economics, 18(2):115–136.
Hoel, M. and Sterner, T. (2007). Discounting and relative prices. Climatic Change, 4:265–280.
*Holden, S. (2011). Avoiding the resource curse.
*Kamien, M. I. and Schwartz, N. L. (1978). Optimal exhaustible resource depletion with endogenous technical change. The Review of Economic Studies, 45(1):179–196.
*Kilian, L. (2009). Not all oil price shocks are alike: Disentangling demand and supply shocks in the crude oil market. The American economic review, 99(3):1053–1069.
*Krautkraemer, J. A. (1998). Nonrenewable resource scarcity. Journal of Economic Literature, 36(4):2065–2107. Norgaard, R. B. (1990). Economic indicators of resource scarcity: a critical essay. Journal of Environmental Economics and Management, 19(1):19–25.
*Norgaard, R. B. (1990). Economic indicators of resource scarcity: a critical essay. Journal of Environmental Economics and Management, 19(1):19–25.
*Robinson, J. A., Torvik, R., and Verdier, T. (2006). Political foundations of the resource curse. Journal of development Economics, 79(2):447–468.
Sanchirico, J. N. and Wilen, J. E. (2001). A bioeconomic model of marine reserve creation. Journal of Environmental Economics and Management, 42(3):257–276.
*Sinn, H.-W. (2008). Public policies against global warming: a supply side approach. International Tax and Public Finance, 15(4):360–394.
*Slade, M. E. and Thille, H. (2009). Whither hotelling: Tests of the theory of exhaustible resources. Annual Review of Resource Economics, 1(1):239–260.
Smith, M. D. (2012). The new fisheries economics: Incentives across many margins. Annu. Rev. Resour. Econ., 4(1):379–402.
*Smulders, S. (1995). Entropy, environment, and endogenous economic growth. International Tax and Public Finance, 2(2):319–340.
*Spiro, D. (2014). Resource prices and planning horizons. Forthcoming Journal of Economic Dynamics and Control.
*Spiro, D. (2013). Overview lecture notes.
*Stiglitz, J. E. (1976). Monopoly and the rate of extraction of exhaustible resources. The American Economic Review, 66(4):655–661.
*Teece, D. J., Sunding, D., and Mosakowski, E. (1993). Natural resource cartels. Handbook of Natural Resource and Energy Economics, 3:1131–1166.
*Van der Ploeg, F. (2011). Natural resources: Curse or blessing? Journal of Economic Literature, 49(2):366– 420.
*Weinstein, M. C. and Zeckhauser, R. J. (1975). The optimal consumption of depletable natural resources. The Quarterly Journal of Economics, 89(3):371–392.