Listar por tema "Habit formation"
Mostrando ítems 1-3 de 3
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Endogenous Growth, Habit Formation and Convergence Speed
(De Gruyter, 2010)[Abstract] This paper analyzes the effect on the economy dynamics of alternative formulations of habit persistence in an endogenous growth model. The focus is on the impact on the convergence speed, which is the key ... -
Equilibrium dynamics in the neoclassical growth model with habit formation and elastic labor supply
(Scientific Research Publishing, 2012)This note analyzes the equilibrium dynamics in the neoclassical growth model with habit-forming preferences and elastic labor supply. Habits enter into utility in a multiplicative way. The specification of the habit ... -
The welfare cost of external habits: a quantitat ive assessment
(Universidad de Chile, 2010)[Abstract]: This paper quantifies the welfare cost of consumption externalities in an endogenous growth model with habit formation. Agent’s utility depends on both current consumption and a reference consumption level ...