Constant Consumption and the Economic Depreciation of Natural Capital: The Nonautonomous Case
研究在产出价格、技术和利率非平稳变化时，自然资本的经济折旧如何影响恒定消费，发现前两种情形下可通过投资覆盖折旧实现恒定消费，而利率情形需修改偿债基金策略。
We investigate economic depreciation of natural capital for cases of nonstationary output prices, technology, and interest rates. For the former two cases (exogenous movements in prices and technology), constant consumption emerges under a strategy of investing to cover off economic depreciation. The interest rate case requires a modified sinking fund strategy.