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Value and depreciation of mineral resources over the very long run: An empirical contrast of different methods

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dc.contributor.author Rubio Varas, M. del Mar
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.accessioned 2017-07-26T10:50:14Z
dc.date.available 2017-07-26T10:50:14Z
dc.date.issued 2005-05-01
dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=867
dc.identifier.uri http://hdl.handle.net/10230/553
dc.description.abstract The paper contrasts empirically the results of alternative methods for estimating the value and the depreciation of mineral resources. The historical data of Mexico and Venezuela, covering the period 1920s-1980s, is used to contrast the results of several methods. These are the present value, the net price method, the user cost method and the imputed income method. The paper establishes that the net price and the user cost are not competing methods as such, but alternative adjustments to different scenarios of closed and open economies. The results prove that the biases of the methods, as commonly described in the theoretical literature, only hold under the most restricted scenario of constant rents over time. It is argued that the difference between what is expected to happen and what actually did happen is for the most part due to a missing variable, namely technological change. This is an important caveat to the recommendations made based on these models.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 867
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Value and depreciation of mineral resources over the very long run: An empirical contrast of different methods
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2017-07-23T02:09:38Z
dc.subject.keyword value
dc.subject.keyword depreciation
dc.subject.keyword mineral assets
dc.subject.keyword net price
dc.subject.keyword user costs
dc.subject.keyword imputed income
dc.subject.keyword environmental accounts
dc.subject.keyword Economic and Business History
dc.subject.keyword Macroeconomics and International Economics
dc.rights.accessRights info:eu-repo/semantics/openAccess

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