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

The paper contrasts empirically the results of alternative methods for estimating thevalue and the depreciation of mineral resources. The historical data of Mexico andVenezuela, covering the period 1920s-1980s, is used to contrast the results of severalmethods. These are the present value, the net price method, the user cost method andthe imputed income method. The paper establishes that the net price and the user costare not competing methods as such, but alternative adjustments to different scenariosof closed and open economies. The results prove that the biases of the methods, ascommonly described in the theoretical literature, only hold under the most restrictedscenario of constant rents over time. It is argued that the difference between what isexpected to happen and what actually did happen is for the most part due to a missingvariable, namely technological change. This is an important caveat to therecommendations made based on these models.

List of publications and summary of the mineral resources of Wyoming.

The Summary I. 1-15, being the Press bulletin no. 10.

Mineral resources.

At head of title, no. 1-12: New South Wales. Department of Mines and Agriculture; no. 13- New South Wales. Dept. of Mines.

The Strangers' guide to the islands of Guernsey and Jersey : embracing a brief history of their situation, extent, population, laws, customs, public buildings, amusements, antiquities, climate, and productions, vegetable and mineral : together with a complete commercial directory of both islands : coins, weights, measures, &c. : embellished with maps of both islands.

Goldsmiths'-Kress no. 27880.

History of Texas, from its discovery and settlement, with a description of its principal cities and counties, and the agricultural, mineral, and material resources of the state.

Mode of access: Internet.

The history of Mexico, from the Spanish conquest to the present era; containing a condensed and connected general view of the manners, customs, religion, commerce, soil, and agriculture - animal, vegetable, and mineral productions - a concise political and statistical review of the changes effected in that country, with is present form of government, &c. &c. - Also, observations, speculative and practical, as to the best means of working the Mexican mines, by a combination of British talent, capital, and machinery.

Mode of access: Internet.

The Mineral Resources of Oregon

Mode of access: Internet.

Annual Report of the Mineral Resources of Tennessee

Mode of access: Internet.

Political and Commercial Control of the Mineral Resources of the World

Mode of access: Internet.

Mining laws of 1872 and 1989 : hearing before the Subcommittee on Mineral Resources Development and Production of the Committee on Energy and Natural Resources, United States Senate, One Hundred First Congress, first session, on S. 1126 ... June 7, 1989.

"September 13, 1990".

Mining Law Reform Act of 1991 and the Minerals Policy Review Commission Act of 1991 : hearing before the Subcommittee on Mineral Resources Development and Production of the Committee on Energy and Natural Resources, United States Senate, One Hundred Second Congress, first session, on S. 433 ... S. 785 ... June 11, 1991.

Item 1040-A, 1040-B (MF).